The median sales price for a single family home on Oahu in February was the 2nd highest on record.
Singel Family Home Stats
This Ocean Pointe home (MLS # 201702637) is listed just under February's median price
February was another great month for Sellers on Oahu as the median sales price hit $755,000, which was a 7.9% increase over February of 2016. The highest on record was June of last year that hit $760,000. Homes were also selling fast with just 21 days on market and active listing inventory down 9.5% from last year.
Leasehold Waikiki Condo (MLS # 201627511) currently listed for February's $385,000 median price
Meanwhile, the median condo price was up 1.7% from last year, however still was still over $20,000 under June's record of $405,500. The number of transactions however took a nice bump of 11.7% to finish off the month with 362 closed sales. Median days on market was also favorable to Sellers with just 22 days. In addition, active listings were down 8.4%.
As always, all real estate is local. Here are the neighborhoods on Oahu that were hot for sellers and buyers in February:
Neighborhoods “Hot” for Sellers
- Home sales in Waialae-Kahala were up 140%
- Home prices in Aina Haina-Kuliouou were up 62%
- Condo sales in Diamond Head-Kapahulu* and the Windward Coast were up 100%
- Condo prices in Kalihi-Palama were up 82%
Neighborhoods “Hot” for Buyers
- Home sales on the North Shore and the Windward Coast were down 60%
- Home prices in Moanalua-Salt Lake were down 22%
- Condo sales in Kalihi-Palama were down 40
- Condo prices n Diamond Head-Kapahulu were down 52%*
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.
* Only 30% of the sales in the Diamond Head-Kapahulu region were in the Gold Coast area of Diamond Head this year vs. 75% last year