Kaneohe, Hawaii, is a census-designated place in the capital city of Honolulu. Like many communities in Hawaii, this  community, is home to high-priced residential real estate. Though the Kaneohe real estate market has suffered from several setbacks since the beginning of the global financial crisis, in recent month signs have pointed back up toward recovery, as prices rise again and the number of foreclosures in Kaneohe falls.

According to the Honolulu Board of Realtors, there were 45 new listings of Kaneohe homes for sale in August of this year, unchanged from a year ago. During the month, there were 15 closed sales, down 11.8% from August of last year, when there were 17 sales. The median sales price in the month was $650,000, up a mere 0.2% year-over-year, having increased by just $1,000, and sales were seeing a higher percentage of the listing price paid as the final price, was the ratio at 95.2% in August versus 94.1% a year ago.  The biggest improvements have been seen in the inventory: In August, there were just 97 homes for sale in Kaneohe, down from an inventory of 168 at the same time one year ago. In August, homes spent an average 39 days on the market before selling, which was up 62.5% from a year ago, when the average home was on the market just 24 days before selling.

The Kaneohe condo market. There were 21 new condos listed in August, compared with just 18 listed at the same time a year ago. Sales saw an improvement record of 70% annually, with closed sales during the month of August jumping 70%, from 10 to 17. The median price, too, showed improvements, rising to $388,000 from $372,500, a 4.2% rise. Condos spent an average of 39 days on the market in August, down from 45 a year ago, and the current total condo market inventory in Kaneohe stood at 56 in August 2010, down from 64 in 2009.

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