O’ahu Home Sales, Median Sales Prices, Experienced Modest Change in August
HBR's August stats report shows year-over-year active inventory of single-family homes rose by 27.1% with 760 active listings and 64% in the condo market with 1,879 active listings last month. Despite more options at across nearly every region and price point, sales remain relatively unchanged.
Similarly, median sales prices experienced minor changes, with the single family home market ending the month at $1,122,000, up 1.1% from a year ago, while the condo median sales price for August was $500,000, a 2.9% decline from August 2023.
HBR's August Monthly Statistics Report also shows:
- Single-family home sales rose 0.4% – up by one sale. The median sales price ticked up 1.1% to $1,122,000.
- In the condo/townhome market, sales fell 5% and the median condo price was $500,000, down 2.9% year over year.
- The median days on market was 14 days for single-family homes and 28 days for condos/townhomes.
- More new listings came on the market compared to a year ago with 346 single-family homes, up 4.8% year-over-year, and 629 condos or 14.6% more than August 2023.
“With the growth in active inventory and new listings, buyers have more options in nearly every region and price range across O‘ahu. However, we continue to see little changes in median sales prices and sales volume due to sustained demand and competition,” said Fran Gendrano, President of the Honolulu Board of REALTORS. “There are several factors influencing our market, such as fluctuating interest rates and rising condo insurance, making it more important than ever to enlist the help of a licensed REALTOR to achieve your real estate goals.”
