The Wai`alae-Kahala neighborhood is not only a beautiful area but it is situated at the end of the H-1 freeway and it is home to the most expensive dwellings on O`ahu. For research purposes, the Honolulu Board of REALTORS® defines this geographic area as Tax Map Key , Zone 3, Sections 5.

Sales in this residential area have been solid and even increased in 2007. There were 136 reported sales for the year, compared to 127 in 2006, an increase of 7.1%. This sales expansion is counter to the overall O`ahu statistic of a 10.2% drop in single family home sales. In January this year, only 7 sales were completed, as opposed to 15 a year ago.

The median price paid for a property in this neighborhood was $1,400,000, both in 2007 and 2006. Notably, this is the only neighborhood on O`ahu with a median price above $1 million, and even with fewer sales in January, the median price was $1,351,000. The highest sale during 2007 was $11,250,000 and this sale was significantly higher than the 2006 maximum sale of $9,000,000.

The Days on Market indicator, from listing date to an Agreement, was 46 days in 2007, one day faster than for overall O`ahu. In 2006, this figure was much higher, at 75 days.

For further information about how your specific neighborhood performed, check out the Honolulu Board of REALTORS® website www.HiCentral.com or contact a REALTOR® in your area. If you have an area you'd like analyzed in this blog, please leave me a comment.