O’ahu Single Family Home and Condo Sales Up Year Over Year In November
In November 2024, O‘ahu single-family homes and condos saw double-digit increases in sales, and nominal changes in median sales prices year over year.
Single-family home sales rose 12.8% with 203 closings and the median sales price was $1,115,000, up 1.4% . A slightly larger share of single-family home sales closed above the original asking price this November – 26% compared to 21% in November 2023.
Condo sales jumped 10% to 341 closings, while the condo median sales price increased 2.7% to $530,000. Fewer condos sold above the original asking price, accounting for 12% of sales this November compared to 19% at the same time last year.
November ended with 749 active single-family home listings (up 11.5%) and 2,049 active condo listings (up 53.3%).
HBR's November Monthly Statistics Report also shows:
- Single-family homes that sold in November spent slightly less time on the market, marking a median of 24 days compared to 29 days in November 2023. The condo median days on market lengthened to 32 days compared to 23 a year ago.
- Throughout November, the single-family home market brought on 297 new listings, rising 11.2% from a year ago, while the condo market rose 30.9% to 598 new listings.
- The condo market welcomed new listings at all price points and saw a notable rise in new listings priced at $1,000,000 and above. New listings in that range increased by 93.8%, with 124 new listings compared to 64 a year ago.
“Although seasonal trends produced a drop in sales from a month ago, the uptick in sales year-over-year in both single-family home and condo markets was positive. We also continued to see more sellers offering properties for sale compared to a year ago and sustained demand from prospective buyers, resulting in a balanced market,” said Fran Gendrano, Immediate Past President of the Honolulu Board of REALTORS.
