Sunday, February 26, 2006

Hawaii Prices Peak

It looks like the market peaked in Hawaii. Hawaii is not quite the same market as the Jersey Shore, but I would imagine some of the same dynamics were at work in the run up in prices there, as here.

"Alicia and Jon Sturnick of 'Ewa Beach dropped the asking price on their Ocean Pointe house by $15,000 and are starting to get the uneasy feeling that they missed the peak of O'ahu's latest housing boom.

"If we had put it on the market earlier, we would have definitely sold it already," Alicia Sturnick said. "I knew the market would slow down but I didn't know it would happen so soon."

Last month, they lowered their asking price from $590,000 to $575,000, which positioned it well below January's median sale price of $615,000 for a single-family home."



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