Can you believe it? Oahu just hit a new record high for single-family home prices — but at the same time, condos are creeping toward a buyer’s market. 🌴 If you’ve been wondering whether to buy or sell property in Honolulu, these latest stats might help you decide.

Let’s break down the February 2025 housing stats, so you can see what’s happening on the island and what it might mean for your real estate goals.

Single-Family Homes: Record Prices, Fewer Sales 🏠

Median Home Price: $1,185,000 (🚀 New Record High) 
Sales Volume: 167 homes sold (-6.7% YoY)
Days on Market: 23 days (-23.9% faster than last year)
Inventory: 728 listings (+21.6% YoY)

What This Means:

  • For Sellers: This is your moment! With home prices at a historic high, you could maximize your profit — especially since homes are selling faster.
  • For Buyers: While prices are up, inventory has increased — so you might still find good options. But be ready to move quickly, as homes are selling faster than last year.

Condo Market: Price Drops & Buyer Opportunities 🏙️

Median Condo Price: $494,000 (-3.6% YoY)
Sales Volume: 293 condos sold (-12.3% YoY)
Days on Market: 48 days (+23% longer than last year)
Inventory: 5.8 months of supply (Almost a Buyer’s Market)

What This Means:

  • For Sellers: Condo prices are slipping, and units are taking longer to sell. If you need to sell, you might have to price competitively or offer incentives.
  • For Buyers: This could be the best time in years to buy a condo! With prices dipping and inventory rising, you’ll have more negotiating power — especially if we cross into a full buyer’s market (6+ months of inventory).

Is It a Buyer’s or Seller’s Market?

🔑 Single-Family Homes: Seller’s Market (High prices, fast sales)
🔑 Condos: Almost a Buyer’s Market (Rising inventory, falling prices)

If you’ve been considering a single-family home, you may want to act fast before prices climb even higher. But if a condo lifestyle is calling your name, patience and smart negotiating could land you a great deal.

Final Thoughts: Should You Buy or Sell in 2025?

The Oahu housing market is a tale of two trends:

  • Homeowners are cashing in on record prices 📈 (Highest price since May, 2022)
  • Condo buyers are gaining leverage in a softening market 📉 (Lowest price since February 2023)

Whether you’re thinking about buying or selling, it’s essential to stay informed and work with a local expert who can guide you through the shifting market conditions.

📞 Have questions about Oahu real estate? Call me at 808-371-3509 — I’d be happy to help you navigate the market and find the right opportunity for you.

Would You Buy Now or Wait?

Let me know in the comments — are you planning to jump into the market, or are you holding out for even better opportunities? 👇