The median sales price for a single family home on Oahu hit $789,500 in July, which was the 2nd highest on record. The current record is $795,000 set in June of last year.
Single Family Home Stats
This Hoakalei home (MLS # 201814344) priced at $788k is just under July's median
In addition to nearing the record high, there were 1.5% less homes selling on Oahu, which drove higher demand and the average sales price increased a whopping 10% from last year to finish at $974,835! The median days on market finished at just 13 days, which is a 35% drop compared to this time last year. Hence, we're still in a strong Seller's Market according to the data.
Condo Sales Stats
This Waikele condo (MLS #201819102) is priced at $429,000 just under July's median
The median condo price of $429,500 also was near a record high. The previous condo record price of $435,000 was set in March. Sales increased 5.7% to round out with 507 closed transactions for the month. Although Days on Market increased 28.6% from 14 to 18 days, it was still a Seller's Market for sure.
To find out what is happening in your specific neighborhood (or street for that matter), feel free to contact me for more information.