Oahu had another strong month of residential resales this past month. Sales volume was up 29% for single family homes and up 33.2% for condos. Unlike last month (where there was an abnormal spike due to the project completion of Holomua), these numbers were a true barometer of how strong the market is.
Oahu Single Family Home Statistics
The median price of a single family home jumped to $625,000, which was up 4.2% from last year. April was also the strongest month for sales we’ve seen since December. The average days on market is still incredibly low at just 23 days! The word has gotten out that it’s a Seller’s market as April also saw the highest influx of new inventory since June of last year with 403 new listings coming online.
Oahu Condo Statistics
Condo prices ticked upward with the median price coming in 5% above last year at $335,000. Days on market were also phenomenal with just 19 days until an offer got accepted. Please keep in mind, these “Days on Market” stats only include listings that sell. Withdrawn or expired listings are not included in the data. The word has definitely gotten out to condo owners as well about this hot market as April had 556 new listings, also the highest number of new listings since last June.
Hawaii Life Oahu Office Closings Up Over 100% from Last Year
It’s become pretty apparent that the market is starting to fire on all cylinders. I started this article off quoting the Honolulu Board of Realtor stats showing increases up 29% and 33.2% for homes and condos. What I didn’t mention was our own Oahu office closings were up over 100% from last year.
We’re still flying a little under the radar, however, if you’d like to learn more about how our clients are achieving success with Smart Marketing and Solid Representation, feel free to contact one of us on Oahu.