In an effort to continuously keep our clients updated on micro-market conditions, we present our monthly Honua Kai market update. This shall encompass new listings on the market, those that have gone into escrow during the month, and closed sales for the month.
The Honua Kai micro-market continues to see increased inventory, particularly after the developer finished its sales and re-sales have dictated values, available inventory, and absorption. The month of May saw a good amount of new listings:
Konea 521 - Studios are in short demand, particularly those on higher floors. As Konea 521 came on the market, even with its large floor plan for a studio (at 615 square feet), the asking price of $975K may have seem above market to some, but…