Market Update
What’s going on in Hawaii’s Real Estate Market? Is it the right time to buy or sell? Hi, I am Fawn Bertram with Homes by Fawn and Hawaii Life. In Oahu, we have about 1,124 single-family homes and about 1,973 condos/townhomes on the market.
Single-family home sales increased by 12.3% with 347 closed homes and for condos/townhomes by 6.5% with 472 closed sales when compared to last year.
For new listings on the market, there was a positive increase in single family homes by 5.5% and for condos/townhomes by 14.2% from last October.
The medium sales price for single-family homes decreased by 2.5% to $780k. Condos and townhomes increased by 13.1% to $441,000.
The median days on the market for single-family homes was 23 days and 26 days for condos and townhomes.
President of the Honolulu Board of Realtors
Let’s see what the President of the Honolulu Board of REALTORS®, Jenny L. Brady said.
“We continue to see healthy activity across Oahu’s real estate market, especially when it comes to sales of single-family homes in the affordable to mid-range price categories.
With conditions pointing towards a balanced market for both buyers and sellers, it’s an opportune time to contact a REALTOR® to find out more about the market trends and understand your options whether you’re looking to buy or sell your home.”
More Information
December’s Housing Market remained steady, and we’re in a balanced market. Interest rates are still low, contact your lender for more information. It’s a great time for both buyers and sellers. Fawn Bertram with Homes by Fawn. As always feel free to reach out to me for anything Community or Real Estate related. Stay tuned or visit my website or Youtube channel with more helpful tips on the home buying and selling process. Make it a great home buying and selling day.
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