In April, we experienced one of the largest dips in home sales on Oahu in awhile.
This Honolulu home (MLS# 1014958) is priced at April’s median price of $585,000
Existing home sales were down 19.6% from the previous year. Condo sales were also down 6.7%. On a brighter note, prices were stable as the median sales price on Oahu was up 3.5% for homes to $585,000 and down just 0.7%Â to $305,000 for condos.
Although the dip in home sales may be alarming, April is typically a slower month as people are preparing their taxes. This was also the first bump up in prices this year.
What neighborhoods were great for sellers in April?
- Home sales on the Pearl City–Aiea were up 220%
- Home prices in Aina Haina–Kuliouou were up 109.2%
- Condo sales on the Windward Coast were up 300%
- Condo pricesÂ on the Windward Coast were up 74.1%
What neighborhoods were great for buyers in April?
- Home sales in Kalihi-Palama were down 61.5%
- Home pricesÂ on the Moanalua-Salt Lake were down 18.7%
- Condo sales in Wahiawa were down 100%
- Condo prices on the Wahiawa were down 100%
As always, all real estate is local. To find out whatâ€™s happening in your neighborhood, contact one of ourÂ great Realtors on Oahu to see whatâ€™s going on in your market, and if now is the time to buy or sell.