The housing market remained strong for Sellers on Oahu in October as home prices were up and days on market down. This fuels the "perfect storm" for Sellers to take advantage of pricing and quicker sales times.
Inforgraphic for Sales Stats in October, 2016
Single Family Home Stats
Hoakalei Ka Makana Home (MLS # 201600508) listed just under October's median of $742,000
The median sales price was up 3.1% from a year ago to finish at $742,000. Transactions were up 7% from last year with 335 deals that took place. Seller's took advantage not only with the higher pricing, the median days on market stood at just 19 days.
Executive Centre condo in Downtown (MLS # 201627714) listed for October's median price of $396,000
The condo market also boded well for Sellers as the median days on market stood at just 20 days and the median sales price was $396,000, which was a 7% increase from last year. Transaction sides were down though by 5.7% with 428 deals taking place.
As always, all real estate is local. Here are the neighborhoods on Oahu that were hot for sellers and buyers in October:
Neighborhoods “Hot” for Sellers
- Home sales in Aina Haina-Kuliouou were up 225%
- Home prices in Maikiki-Moiliili and Wahiawa were up 19%
- Condo sales in Kailua-Waimanalo were up 400%
- Condo prices on the North Shore were up 73%
Neighborhoods “Hot” for Buyers
- Home sales in Waialae-Kahala were down 60%
- Home prices on the Windward Coast were down 15%
- Condo sales Kapahulu-Diamond Head were down 88%
- Condo prices in Downtown-Nuuanu were down 21%
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.