Aloha, this is David Buck of Harcourts Island Real Estate here to give you the local market update for July of 2021.
Local Single Family Home Report
The neighborhood that saw the largest increase in the number of sales was along the Windward Coast, which basically spans from Kaneohe up through Hauula. There were just 4 sales last year and 10 sales this year. This is the strongest market on island, which is up 150% regarding the number of sales from July of 2020 through July of 2021.
Regarding the median home price on Oahu, you might find it funny that I'm here between Ala Moana and Kakaako. You don't normally think of this as an area for single family homes, but I'm actually in a little pocket between Rycroft and Laula where there's actually some detached single family homes. The median price from Ala Moana-Kakaako had the largest increase, which went from $625,000 in July of last year to $1,190,000 this year. There was only 1 sale (keep in mind), so this is kind of like an outlier. That was a 90% increase from July of 2020. However, shortly behind was the North Shore of Oahu, which had an 85% increase. That's a significant increase as well, going from $814,500 to $1,505,000.
Local Condo Report
As far as the condo market goes, Kalihi-Palama saw the largest increase in the number of sales, which was up 183%, going from 6 in July of 2020 to 17 sales in July of 2021.
As we round out the condo market here on Oahu, it's kind of like Dejy Vu, we're back in Kahala where we were forecasting from last month. Waialae-Kahala saw the largest increase in median sales price for condos, which was up 80%, going from $305,000 to $550,000 this year.
If there's anything we can help with on Oahu, every market is different. It's dynamic. Some are going up, some are going down, but across the board it's really strong in most markets. Feel free to reach out to see how we can help. Mahalo!