Below is a snapshot of September 2017 Oahu real estate market compared to September 2016 data.
The single-family homes number of sales was 374. That is a decent increase of 13.7% compared to 329 in 2016. There was a slight uptick in the median sales price at $760,000. A 1.3% gain matched to $750,000 last year. The average Days on Market was 14 days.
Number of sales for condos raised slightly to 526. A 2.7% gain compared to 512 last year. Median sales price was good at $425,000. That’s an increase of 10.9% measured from $383,250 in 2016. The average Days on Market was 19 days.
The median sales price for condominiums in September tied with the record median sales price set in July of this year, according to resales figures released by the Honolulu Board of REALTORS®.
“The median sales price for condominiums in September is once again the highest we’ve seen in less than a year as the median sales price tied with the all-time record high of $425,000 set in July 2017,” said Sue Ann Lee, president of Honolulu Board of REALTORS®. “Despite sales prices hitting the record-high twice in one year, condos and townhouses are still proving to be a popular alternative for homebuyers as evidenced by the 11.6% increase in pending sales. The continued need for affordable housing and lack of sufficient inventory to meet this growing demand can be demonstrated by the decrease in new listings and five percent decrease in Days on Market.”
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Data Source: Honolulu Board of REALTORS®