Oahu Real Estate Market Report – May 2018

Here is the sales activity for the month of May 2018 compared to the same month last year.  This covers resale homes for Honolulu County (Oahu) and does not include new construction homes, unless reported by the builder.  Contact us anytime for a customized Oahu real estate market report for your community or individual property.

Single-Family Resale Homes

# Sales                       Median Price    Average Price

May 2018                    332                              $778,000         $1,064,083

May 2017                    362                              $745,500         $927,615

 

Condos/ Townhouse Resale Units

# Sales                      Median Price    Average Price

May 2018                    495                              $430,000         $515,482

May 2017                    540                              $406,500         $487,412

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Single Family Home prices and sales volume were both up from the same month last year. The average sales price for the 2nd month this year topped $1 Million. The market is still moving along, even with the increase in interest rates and promises from the Fed to further increase interest rates. The summer months are historically the best months for real estate on Oahu.

Condos and townhouses saw a small dip in volume, following a big April. There was also a decrease in the number of condos listed for sale. The median price and average price did climb over the same month last year.

On Oahu, sales have been strong.  Lower priced properties are still moving extremely fast and seeing multiple offers in many neighborhoods.

Mortgage rates have seen small increases.  An interest increase will raise the monthly mortgage
payments for homes, faster than price increases. Buyers have been scrambling to get their home before they are no longer affordable. In some cases, sellers are putting their homes on the market sooner than they originally planned to take advantage of market conditions.

Contact us anytime for updated numbers for your property or individual community.

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*Median price means half the prices were above and half below the given price.  For additional stats, please contact us.

Data was taken from the Honolulu Board of REALTORS® MLS system.  It is deemed to be accurate, but not guaranteed.

Oahu Real Estate Statistics for January 2016

January 2016 Honolulu County Real Estate Statistics

Below is the sales activity for the month of January 2016 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

With the new federal guidelines for lenders, we are seeing some home purchases taking closer to 60 days with
some lenders, instead of the previous norm of about 45 days.

Single Family Home sales volume and prices are up from the same time last year. Many homes are stillgetting multiple offers, due to extremely low inventory levels in some parts of the island.

See the full report on Randy’s website here.

Oahu Real Estate Sales Activity – November 2013

Single Family Homes sales volume is steady after the seasonal summer surge. Low inventory levels are continuing to put pressure on the market. We are still seeing prices begin to climb again in many areas. The lower price ranges are the most competitive.

Condos and townhouses sales volume has been consistent. We saw a little dip with the government shutdown and some of the furloughs impactings buyers. Now that they are behind us things have gotten steady again. –

See the complete Oahu real estate sales activity report for November 2013 on Randy’s ActiveRain blog.

Oahu Real Estate Sales Activity – August 2013

Below is the Oahu Real Estate sales activity for the month of August 2013 compared to July 2013 and August of last year. This covers resale homes for Oahu (Honolulu County).

Oahu Single Family Homes sales volume and prices are climbing, after a small drop in July. Low inventory is continuing to put pressure on prices. Many homes are continuing to sell for more than the appraisal and asking price.

Condos and townhouses are seeing steady pressure. Many buyers are rushing to take advantage of prices before they climb higher and before interest rates rise and price them out of the market.

Single-Family Home Resales

Month | Year    | # Sales   | Median Price | Average Price
Aug      | 2013   | 365          | $655,000        | $800,391
July      | 2013   | 290         | $647,500         | $788,955
Aug      | 2012   | 293          | $609,000        | $719,392

Condos/ Townhouse Resales

Month | Year    | # Sales | Median Price | Average Price
Aug      | 2013    | 460       | $350,000       | $436,521
July      | 2013    | 426       | $345,500        | $396,018
Aug      | 2012    | 409       | $320,000       | $366,072
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*Median price means half the prices were above and half below the given price. For additional stats, please contact us.

Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.