The latest housing market trends in Honolulu

Current Housing Market Trends

OAHU SINGLE-FAMILY HOME SALES SPRING UP IN APRIL

Single-family homes ticked up in April, according to resales figures released by the Honolulu Board of REALTORS

During April 2019, the sales of single-family homes increased by 10.0 percent, while condominium sales decreased by 13.0 percent from April 2018. The median price paid for single-family homes decreased by 2.9 percent from the same month last year to $766,750, while the median price paid for condos increased to $418,950, a 0.7 percent increase from last April. Active listings increased year-over-year for both single-family homes and condominiums with gains of 30.6 percent and 17.6 percent, respectively.

According to the Days on Market indicator, the median days for single-family homes was 25 and 29 for condominiums. After a slow first quarter that saw a decline in housing sales, but steady median prices, the Oahu market experienced positive activity in April with a 10 percent increase in single-family home sales,” said the president of the Honolulu Board of REALTORS®. “Low mortgage interest rates, coupled with more inventory on the market compared to last year, presented better opportunities for potential homebuyers and spurred more of them to buy. While condo sales were down comparatively, there was still a healthy number of condo units sold in April.” 



Market data provided by the Honolulu Board of Realtors. This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.

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