David E. Buck and Dianne Willoughby discuss the real estate market update for October on Oahu.

Single Family Home Stats

Ocean Pointe Home in Ewa Beach asking $780k

This Ocean Pointe home in Ewa Beach (MLS # 201919444) is asking $780,000

We finished the month off with a median sales price of $780,000, which was a 2.5% decrease from October of last year. Meanwhile homes were selling 20% faster with just 23 days on market, compared to 29 days last year. We also saw a surge in the number of pending sales which were up 15%. That's showing some strength in the market and we look forward to a strong November.

October 2019 Housing Stats on Oahu

Single Family Home and Condos Stats Year over Year and Year to Date

Condo Stats

Waikiki Condo for $440,000

This Waikiki condo (MLS # 201930386) is listed at $440k - just under October's Median

The median sales price for October of 2019 was $441,000. It's an increase of 13% compared to October of last year. The number of pending sales at the end of October was 642. That was an increase of 9% compared to October of 2018. This may give us an indication that November may be a very strong month with a lot of closings. Our months of remaining inventory went from 3 months to 3.8 months of inventory. That's an increase of 26%, which may be a slight indication that the market may be slowing.

Each market is different and each home is unique. If you'd like to find out what this means for you, contact us for more information.