Single Family Home Update

Well, guess what? We DID NOT hit a record for home sales this month. This is David Buck with Harcourts Island Real Estate here to give you the market update for April of 2022. We've had such a phenomenal ride... We've hit a record for so many months we've talked about over the past 6 months to a year. However, the median sales price in March of $1,150,000 we've dropped off a bit from that. But, we are still up 19.1% from a year ago, where homes were trading at just $928,000. Now they are at $1,105,000, which is $45,000 shy of the record we saw in March, but still a great market for home sellers on Oahu.

We did see a slight slow down in sales, which were down 2.7%, going from 375 sales the previous year to 365 sales this year. Days on Market are also just creeping up a little bit, going from 9 Days to 10 Days. We're also seeing a slight increase in inventory, which is up 3.7% from a year ago. So, I don't know if that's an indication of interest rates just yet, but we're just seeing a little bit of a softening here in the market. Stay tuned as I'll be up shortly with the condo report. Mahalo.

April 2022 Market Snapshot

Condo Update

OK. As we jump into the condo stats, the prices were up as well. They were up 13.3% going from a median price in April of last year going from $450,000 to $510,000. That's also going to be shy of March's record of $515,500. However, $510,000 is still a healthy number for the median price for condos here on Oahu.

Sales were actually up 4.2%, going from 645 sales last year to 672 sales this year. Days on Market dropped slightly from 13 Days to just 12 Days. Inventory, contrary to the single family home market (that bumped up a little bit) inventory for condos was down over 19% from a year ago. So, it's a little more slim pickings on the condo front in that particular price point and what people are looking for.

To find out more about what's happening in the market, feel free to contact us for more information. Mahalo!