Oahu Real Estate Sales Activity – November 2018

Here is the sales activity for the month of November 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
Nov. 2018 288 28 $797,000 $1,000,053
Oct. 2018 309 29 $800,000 $1,013,132
Nov. 2017 322 16 $773,500 $941,410

Condos/ Townhouse Resales

Month # Sales DOM Median Price Avg. Price
Nov. 2018 429 22 $420,000 $502,617
Oct. 2018 443 25 $390,000 $470,725
Oct. 2017 501 20 $405,000 $464,707

Single Family Home  prices are up slightly over last year. Sales volume is down and the average days on the market has started to increase the last few months. Interests rates have been threatening to climb but have remained pretty steady. This is still a good time for home buyers. Buyers are seeing a little more inventory to choose from. 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.

Condos and townhouses sales volume are down, while prices picked up again. There has not been a huge change on the average days on market.

On Oahu, We did see more of a holiday slowdown than past years, but are seeing things starting to pick up again the last week or so. We are anticipating sales strong activity after the 1st of the year.

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.

About Randy Prothero

Randy works with both buyers and sellers and takes extreme pride in having placed many first time home buyers in homes. He is an area expert for residential real estate and one of a small handful of agents who specialize in working with VA / Military clients. His services are normally free to buyers.

Contact Randy to start the process of buying or selling a home. He will make it a pleasant experience.

Speak Your Mind