Single Family Home Report
For the first time in awhile, we didn't actually break a record, but we tied the record of the previous month. This is David Buck with Harcourts Island Real Estate here to give you the monthly market report for September, 2021. On the single family home front, we hit another "record " which was actually a tie with August of 2021. However, that was a significant bump from September of last year (2020) where the median sales price was $880,000. Now it is up 19.3% to $1,050,000.
On top of that, sales volume was higher. We saw a jump of 8.4% going from 391 sales in September of last year to 424 sales this year. So, the single family home market is on fire. What did remain unchanged, last year it was still a Seller's Market. It's just more crazy this year because Days on Market remained unchanged with just 9 Days on Market, the same number we saw in September of last year. So, take a look at the infographic below and I'll continue with the condo market. Mahalo.
The median condo price finished up 7.4% from September of 2021, which is a nice jump. However, it did fall shy of the record that was set in August of $500,000. The number of sales were also up a whopping 34.9% going from 456 sales last year to 615 condo sales this year. So, the condo market will normally trail the single family home market. A lot of Buyers are getting priced out of condos and there was a lot of fear in condos last year during COVID.
Days on Market were stagnant as I'd mentioned for single family homes. Regarding condos, the Days on Market were down 47.8%, going from 21 Days on Market a year ago to only 11 Days this year. So, the condo market is on fire. If properties are priced right, they are moving. We also have different markets within the market. That's a whole another segment, but if you want a little more information to see where your property stands in this market, feel free to reach out. We can be reached at 808-371-3509. That's my mobile or the main line of 808-777-4880. Mahalo and have a great day!