Oahu Real Estate Sales Activity – December 2018

Oahu Real Estate Sales Activity - December 2018

Here is the sales activity for the month of December 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.

Single Family Home Resales

Month # Sales DOM Median Price Avg. Price
Dec. 2018 259 28 $788,000 $981,313
Nov. 2018 288 29 $797,000 $1,000,053
Dec. 2017 361 16 $750,000 $861,097

Condos/ Townhouse Resales

Month # Sales DOM Median Price Avg. Price
Nov. 2018 440 25 $398,500 $450,252
Oct. 2018 429 22 $420,000 $502,617
Oct. 2017 461 18 $405,000 $477,342

Single Family Home  prices are up slightly over last year, but dropped a little from November. Sales volume is down and the average days on the market has continued to increase slowly. This is still a good time for home buyers. Even though sellers are seeing it taking longer for their homes to sell, homes are still selling and prices are holding strong in most areas, we are seeing some softening of prices in a few areas.

Condos and townhouses sales volume are down a little from the same time last year, but up from last month. With the increased sales volume, prices softened from November. Average days on the market is starting to creep up a little.

On Oahu, we did see more of a holiday slowdown than past years. The first week of the year we are seeing increased activity from buyers. We expect to see increased numbers in February and March from the activities from buyers in January.

Future interest increases will impact mortgage payments for homes, greater than price changes. If you are thinking of upgrading our downsizing to a new home, this is still a good time to do that. Contact us anytime for updated numbers for your property or individual community.

*Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

Speak Your Mind