Aloha! This is David Buck with Harcourts Island Real Estate. Today, we're going to talk about the market stats for April of 2024. 

Single Family Home Stats

First off, we're going to start of with the single family homes and there we saw the same median sales price that we saw last month in March, which was $1.1 Million. That's a nice step up from April of '23, where it's actually a 10% increase. It was just under $1 million bucks at $999,995.

Meanwhile, sales were up 26% from a year ago. In April of '23, we had 208 single family home sales here on Oahu. This past month we saw 282. That's nice for Realtors and home sellers because there's a lot more velocity and volume in the market and more buyer traffic. Median days on market are actually down as well. They dropped 20.2%. A year ago, median days on market were at 24 days. This past month, they were at 17 days. 

One sign of relief for homebuyers is there's a little more inventory. Inventory is up 15.5% from a year ago. A year ago, there were only 535 homes for sale and this pas month, there were 618 active listings.

Condo Stats

It was only a month ago that we were reporting on condo sales being down 22.5% (in March, compared to March of '23). Now that we're in April, it's a bit of a different story. It's actually quite positive for condo owners. Sales were actually up 2.6% from April of '23. This past month, we saw 431 sales and the previous April we were at 420 sales. That's a sign in the right direction for velocity in the condo market.

Then, as far as condos go, the median sales price was up as well. It was up 5.6%, going from half a million dollars in April of '23 to $528,000 this past month. It's a good sign for condo sellers on Oahu. It's not as good for buyers. However, median days on market have increased so it's taking condos longer to sell. It's gone from 20 days to 29 days. So, it's just a little under a month. Once again, it's a little bit skewed because we only report on what sells. When something sits on the market for 6 months or a year, those stats don't get reported.

Regarding condo inventory, it's also up. That's another positive sign for buyers. Inventory is up 37% from a year ago. A year ago, there was 1,144 condos for sale and this past month we saw 1,576. 

That's the recap for April stats here on Oahu. We're well into the 1st week of May, so if you have any questions about real estate here, we'd love to help. Mahalo!