Can you believe that home sales in Mililani and Makakilo were up 233%? This is David Buck with Harcourts Island Real Estate, here to report on the local market update for November, 2024.
Local Neighborhood Home Sales
As I'd mentioned, both Makakilo and Mililani saw a 233% increase in home sales. That was going from 3 transactions in November of last year to 10 transactions this past month. Meanwhile, across the board of the 21 major neighborhoods that the Honolulu Board of Realtors tracks, we saw an increase in sales in 11 of those neighborhoods. Then, we saw 4 that were flat or unchanged. Then, we saw a decrease in sales in 6 neighborhoods.
The North Shore of Oahu saw the largest increase in median sales price. That was up 38% from a year ago. A year ago, that median sales price was $1,700,000 and this past month, it was at $2,350,000
Local Neighborhood Condo Sales
Kalihi-Palama saw the largest increase in condo sales this past month. That was 140% increase from a year ago. That was going from 5 transactions in November of '23 to 12 transactions this past month. Of those 21 major neighborhoods, that condo market kind of tracked the single family homes. It was very similar in that 11 of those neighborhoods saw an increase in condo sales. Meanwhile, 3 of them were flat and then 7 of them were down. Once again, very similar to single family homes.
The North Shore also saw the highest appreciation, which was up 84%. That was going from $457,000 to $842,500 this past month.
What's Going on in Your Hood?
The real estate market here on Oahu is always dynamic and always changing. To find out what's happening in your specific neighborhood, feel free to reach out and give us a shout at 808-371-3509. Mahalo!