It's a beautiful day today. I'm out on the road showing property and I'm going to give you a quick local market report for single family homes and condos on Oahu for December, 2021.

Local Single Family Home Report

Here we are in Nuuanu with the backdrop of Downtown Honolulu. Nuuanu-Downtown Honolulu saw the largest increase in sales of single family homes from December of 2020 to December of 2021. That went from 7 sales to 14 sales, so Downtown-Nuuanu saw the largest increase in sales volume. We'll be up here shortly to see what neighborhood on Oahu saw the largest appreciation (for homes).

Waialae-Kahala saw the largest increase in median sales price, going from $1,815,000 in December of 2020 to $2,740,000! What's driving that you might ask? It's the lack of inventory. Not too far behind me you can see in the distance Waialae Golf Course. We just finished up the Sony Open last week. It's the first time (I've been tracking the real estate there over the past 10 years) and every year you'll see 3-4 listings for sale along the golf course and this year there is none. There's only been 1 sale in the past 6 months. There's just nothing for sale along Waialae Golf Course and Kahala (proper) behind me has seen some crazy sales recently. That was a 51% increase by the way for the single family home product in Waialae-Kahala and that was by far the highest increase here on Oahu. Of the 21 neighborhoods HBR tracks for stats, 11 of them were actually down. It was a strong month for Waialae-Kahala!

Local Condo Report

As we jump into the condo market, Makiki-Moiliili saw the largest increase in the number of sale, which was up 97% from December of 2020 through December of 2021. That was an increase of going from 38 sales to 75 sales year over year. A lot of confidence and strength is coming back in the Metro Honolulu market between Makiki to Moiliili. 

Kaneohe saw the largest increase in median sales price for condos on Oahu in December of 2020. It was up 37%, going from $557,500 to $775,000 over the course of the year. Here I am at Hale Anaole at a new listing I've got, which is actually under that median price. Right behind me it's got great views (if you were to go in there) of Kaneohe Bay, but what a backdrop here of the Koolau Mountains and some of the other condo projects here within Kaneohe. 

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