The median sales prices for a single family home and condo were relatively flat in October compared to last year (up just 1.3% for SFH and .4% for condos)
View from Ala Wai Plaza condo (MLS # 201722630) listed near October's median price
The silver lining in October's stats were a 14.3% jump in the number of condos sold on Oahu (489 compared to 428 last year). The median sales price was $397,500, which was barely up from $396,000 last year and quite a ways off from the record of $425,000 we saw reached in July. The median Days on Market is still only at 21 days, however it's a slight uptick from 20 last year.
Single Family Home Stats
Royal Kunia home (MLS # 201722662) listed for $750,000
The median sales price for a single family home was $752,000. The same month last year was $742,000 for a 1.3% increase. The number of sales were up 6% from 335 to 355 on the island. The Median Days on Market continued to show signs it's a Seller's Market with just 15 Days (21.1% drop from last year's 19 days)!
Local Market Updates
As always, real estate is local and here's what neighborhoods were hot for buyers and sellers in the month of October:
Neighborhoods “Hot” for Sellers
- Home sales in Waipahu were up 150%
- Home prices in Kailua-Waimanalo and Makakilo were up 19%
- Condo sales in Diamond Head-Kapahulu, Wahiawa and the Windward Coast were up 300%
- Condo prices in Waialae-Kahala were up 20%
Neighborhoods “Hot” for Buyers
- Home sales in Kaneohe were down 44%
- Home prices in Downtown-Nuuanu were down 20%
- Condo sales in Hawaii Kai were down 20%
- Condo prices on the Windward Coast 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.