The numbers of sales on Oahu in September were relatively flat with no change since 2015 for single family homes and a slight increase of 6.7% for condos. Meanwhile, both homes and condos were selling fast with the median days on market just 16 days for homes and 20 days for condos.
September, 2016 Infographic of Real Estate Sales on Oahu
Single Family Home Stats
Although the sales volume was flat (no increase or decrease) compared to last year with 329 transactions, the median sale price was up 2.7% to $750,000. It also continues to be a Seller's Market. In addition to the stat of only 16 days on market, the months of remaining inventory is just 2.9%. Sellers are also received 100% of list price on average.
This Waipahu Home (MLS # 201619405) is listed for September's median price of $750k
In addition to the condo sales volume being up slightly, so was the median sales price which ended up at $383,250 or a 4.7% increase from the same time last year. The condo market was also great for Sellers with only 3 months supply of remaining inventory and selling in just 20 days. Sellers also got 99.5% of their asking price on average.
Condo in Salt Lake (MLS # 201618902) listed just under the median of $383,500
As always, all real estate is local. Here are the neighborhoods on Oahu that were hot for sellers and buyers in September:
Neighborhoods “Hot” for Sellers
- Home sales in Kalihi-Palama were up 100%
- Home prices in Makakilo were up 29%
- Condo sales in Kapahulu-Diamond Head were up 300%
- Condo prices in Kalihi-Palama were up 43%
Neighborhoods “Hot” for Buyers
- Home sales in Aina Haina-Kuliouou were down 70%
- Home prices in Moanalua-Salt Lake were down 15%
- Condo sales Kailua-Waimanalo were down 44%
- Condo prices in Waialae-Kahala were down 39%
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.