The condo sales on Oahu finished strong this summer hitting a new record of 575 sales - which was a 19.5% increase from August of 2016.
This Commodore condo (MLS # 201718608) in Hawaii Kai is listed for August's median of $419k
In addition to the surge in sales, the median sales sale price was up 5.3% from last year to finish at $419,000. Although not as high as July's record of $425,000 it's still a healthy gain year over year. It was also a great month for Sellers with just 18 days on market.
Single Family Home Stats
Waialua home (MLS # 201711838) on the North Shore just under August's median price for $786,250
The median home price also took a nice uptick of 5.2% and for both median price and number of sales compared to last year. Buyers also were snatching them up fast with just 16 days on market!
Local Market Updates
As always, real estate is local and here's what neighborhoods were hot for buyers and sellers in the month of August:
Neighborhoods “Hot” for Sellers
- Home sales in Wahiawa were up 150%
- Home prices on the North Shore were up 97%
- Condo sales on the Windward Coast were up 200%
- Condo prices in Kapahulu-Diamond Head were up 104%
Neighborhoods “Hot” for Buyers
- Home sales in Makiki-Moiliili were down 38%
- Home prices on the Windward Coast were down 21%
- Condo sales on the North Shore were down 29%
- Condo prices in Kailua-Waimanalo were down 22%
What’s Happening in Your Neighborhood?
Please consider these are broad overviews for regions on Oahu. To find out what is happening in your specific neighborhood (or street for that matter), feel free to contact me for more information.