When real estate professionals talk about real estate prices, they often reference values that include the overall market. However, each markets is different depending on the specific neighborhood you live in. Kay Mukaigawa, of Engel & Volkers, thought it would be fun to highlight varying neighborhoods and talk about what’s happening with the real estate in that area. In today’s Living Akamai segment, we are diving into the Pacific Palisades neighborhood.
Kay shared, “According to the Honolulu Board of Realtors, there are 15 neighborhoods that make up the Pearl City Region. They include Aiea area, Aiea Heights, Foster Village, Halawa, Halawa Heights, Momilani, Newtown, Pacific Palisades, Pearl City – Lower, Pearl City upper (Momilani, Twin view), Pearlridge, Royal Summit, Waiau, Wailuna, and Waimalu. The median sales price for single family homes in 2021 was $950,000, with 264 homes sold. In 2022, the median price increased to $1,050,000 and 223 homes sold that year. The Year-to-Date sales for the first quarter of 2023 in the Pearl City region is $910,000 with 49 sales.
If you’d like to learn more about your own neighborhood or attend one of Kay’s upcoming seminars, please contact Engel & Volkers Honolulu at 808-725-2000, or visit evrealestate.com. Let their expertise guide you through Hawaii’s real estate markets.