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Hawaii Real Estate Market Data

<Oahu Real Estate Market Report

Oahu Real Estate Market Report


OAHU SINGLE-FAMILY HOMES AND CONDO SALE STRENGTHEN IN OCTOBER

Single-family homes and condominiums see year-over-year increases in closed sales volume

According to resale figures released today by the Honolulu Board of REALTORS®, both sales of single-family homes and condominiums increased when compared to the same time last year. Single-family homes in the $400,000 to $899,999 price range saw 25.0% more sales this October compared to last year, while condominiums in the $400,000 to $699,999 range saw a 39.0% increase in sales.

“We continue to see healthy activity across O‘ahu’s real estate market, especially when it comes to sales of single-family homes in the affordable to mid-range price categories,” said the President of the Honolulu Board of REALTORS®. “With conditions pointing towards a balanced market for both buyers and sellers, it’s an opportune time to contact a REALTOR® to find out more about the market trends and understand your options whether you’re looking to buy or sell your home. Favorable mortgage rates have given buyers slightly more purchasing power and we saw more sales at higher price points in the condo-townhouse market in October. However, the year-to-date median remains relatively stable at $428,000, compared to 2018’s year-to-date median of $425,000.”

During October, single-family home sales increased by 12.3% with 347 closed sales while the median price declined by 2.5% to $780,000, compared to last October’s median price of $800,000.

Condominium and townhome sales increased by 6.5%, with 472 closed sales this October versus 443 sales last October. The condominium median sales price for October was $441,000, up 13.1% over last October’s median price of $390,000.

New listings for October were mixed, with a 7.5% increase in new single-family home listings, and a 7.0% decline in new condominium listings. The market’s active listings continue to be at positive levels over 2018. According to the Days on Market indicator, the median days for single-family homes was 23 and 26 for condominiums.


Source: Honolulu Board of REALTORS®


 

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