The market sure is like the temperature this summer!  HOT!  At least with homes under $1.0mil and condos under $500K.    Looking at Kailua homes under $800,000 and things are really moving quickly with very little inventory.  The market definitely appears segmented as over $1.0mil homes still have bloated inventory levels.  There appears to be a lot of the First Time Homebuyers trying to take advantage of the $8,000 Fed tax credit before it ends.  Under $800K is where most can afford right now.

I submitted an offer on a townhome recently on behalf of a client and we were competing with 4 other offers.  The home was on the market for one weekend and had 40 groups through their open house.  I passed a few agents that gave fake smiles as they came through the open house while I was there:)