Strong Sales of Oahu Homes Buck Seasonal Trend
Last month, Oahu's real estate market continued its steady rise, with an increase in home values, strong sales for both single-family homes and condos, and low Days on Market compared to a typical October market. Below are some additional insights about the market that I believe you will find helpful. Should you have any questions, please feel free to contact me at anytime.
Sellers of higher-end inventory, such as condos priced above $700,000 and single-family homes
Sales of both single-family homes and condos were strong in October, with an increase of seven
and 14 percent, respectively.
Median prices ticked up slightly for single-family homes and condos over last year, at two and
one percent, respectively.
Low Days on Market for single-family homes bucks the typical seasonal trend upward. The
median Days on Market for Oahu homes in October was just 16 days.
New Listings for both single-family homes and condos are up by 12 percent welcome news
for future homeowners. However, while new listings continue to be up over last year, the number of overall
active listings is not rising much, as the increase in listings is absorbed by higher sales.
priced above $1 million, can expect properties to remain on market a bit longer.