O'ahu Housing Market Records Stable Sales Activity in February

February's housing market recorded modest year-over-year increases in median sales prices, with single-family homes up 1.7% and the condominium median price increasing 1.2%. Single-family home sales rose 6% year-over-year, with 177 sales compared to 167 last February, while condo sales were relatively steady with 291 sales, a 0.7% decrease from 293 transactions a year ago.

Highlights from our February Monthly Statistics Report:

Homes priced at $500,000 and below accounted for 149 sales in February and 295 year-to-date, with 1,148 active listings available in that price range.

Days on market: Single-family homes moved faster with a median of 17 days on market compared to 23 days last February, while condominiums took longer to sell at 56 days, up from 48 days.

New listings: Seller activity remained similar to last year, with 284 new single-family home listings recorded in February, a 1.1% year-over-year increase, while new condominium listings declined 1.9% to 629.

Active inventory: At the end of February, active inventory totaled 673 single-family homes, remaining 7.6% below last year's levels, while condominium inventory increased 5.4% year-over-year to 2,276 listings.

"February's median price reflects the mix of homes that sold during the month rather than a sudden shift in market conditions," said Aaron Tangonan, president of the Honolulu Board of REALTORS®. "February typically represents one of the smaller sales samples of the year, and a greater share of sales in higher price ranges influenced the monthly median. Looking beyond a single data point is where working with a REALTOR® can help buyers and sellers better understand broader market trends."