Single Family Home Report
$928,000. That is now the median sales price for a single family home on Oahu. This is David Buck with Harcourts Island Real Estate here to give you the monthly stat report for April of 2021. Well, this is the first month in many months where we didn't reach a new record high. That record high was in March. So, now we're into April which is normally tax season. This year it's not tax season, it's May (this month). However, $928,000 is still a really solid median sales price. The record was $950,000 just a month before in March.
We're starting to see this recurring theme of 9 days as far as the median days on market goes. We've seen that now over the course of the last several months. Inventory is picking up by 58%. There's now 459 homes for sale on the market. Pending sales are up 74%. Inventory is down. It's a measly 1.3 months of remaining inventory and we've got only 759 homes on the market, which is just crazy. That's down 35.3% from 1173 a year ago.
It's a great time for Sellers. Thanks for tuning in here. Like or subscribe to our channel and Dianne will discuss the condo report for April of 2021. Mahalo.
Condo Report
The median prices for condos on Oahu held steady at $450,000 in April, but the number of closed sales almost doubled compared with April of last year. This is Dianne Willoughby with the report on the condominium market on Oahu for April, 2021. Because April was the first full month after the COVID shutdown last year, it's no surprise to see that the number of sales this April is much higher than it was last year. The 645 sales that closed represent a robust recovery in the condo market with more sales in April than in any other month over the past 2 years.
Although it's taking longer, it appears the condo market is catching up with the strong performance of the single family market and there's evidence of continuing pent up demand. There were 1000 pending sales at the end of April, an indication that the robust market activity will continue into next month.
Year to date, the median days on the market for condominiums is 15 days. This means that half of the condos that sold so far in 2021 were on the market for just 2 weeks. This would be a very good time to explore your options if you've been thinking of selling a condo on Oahu. Please get in touch. We'd be happy to talk with you. Aloha.