Local Update for Homes
Aloha, this is David Buck with Harcourts Island Real Estate and today we're going to talk about the local market update for September of 2024. First off, we're going to talk about home sales and Kailua - Waimanalo saw the largest increase year over year which was actually up 85%. A year ago in September of '23 there were 13 home sales in Kailua and this past month we saw 24 sales. Of the 21 major neighborhoods that the Honolulu Board of Realtors tracks, sales were up in only 5 of those neighborhoods, they were flat in 6 and down in 10.
Meanwhile, Aina Haina - Kuliouou saw the largest increase in median sales price year over year and that was going from $1,525,000 to $2,010,000, which was up 32% increase year over year.
Local Update for Condos
Kapahulu - Diamond Head saw the largest increase in condo sales year over year. That was going from 1 sale a year ago to 7 sales this past month. That's a 700% increase year over year. Of all the major neighborhoods that the Honolulu Board of Realtor tracks, there were 11 neighborhoods that were actually up in value, flat in 1 and down in 9 neighborhoods. That's a change in the sign of the times in that we're starting to see a little more strength in condo sales compared to single family homes.
Meanwhile The North Shore saw the largest increase year over year in median condo price. That went from $440,000 to $1,122,500, which was up 155% year over year.
As we talk about every month, every market is different. Whether it be a specific condo project or neighborhood here on Oahu, everything is dynamic and shifting constantly. To learn more about what's going on in your neighborhood, feel free to contact us for more information. Mahalo!