Market Updates

Neighborhood Insights

The Kiriu Sasaki Team pulls and analyzes data from major neighborhoods across Oahu that encompass active and sold properties. We update this information quarterly to ensure that Team Kiriu is your neighborhood expert. If you’d like a more detailed analysis of your property, call 808-721-2032!

Oahu Real Estate Market Report

Learn all about Oahu's real estate market, including trends in median sales price, number of closed sales, days on market until sale, housing supply, and more!

NOV 2024

November Single-Family Home and Condo Sales Up Year Over Year

Single-family homes and condos report double-digit increases, median prices remain stable

Although there was a seasonal drop in sales from the month before, year-over-year sales in both single-family homes and condos are up. Single-family home closings were up 12.8% over a year ago, at 203, and condo closings were up 10%, reaching 341, while median sales prices for both remained stable. More properties are being offered for sale compared to a year ago, and there is sustained demand from prospective buyers.

Our November Monthly Statistics Report shows:

• The median sales price for single-family homes was $1,115,000, up a modest 1.4% from a year ago, and condos saw a median sales price of $530,000, up 2.7%.

• Single-family homes spent slightly less time on the market in November, with a median of 24 days compared to 29 days last year. Condos, however, saw a median of 32 days, up from 23 a year ago.

• Both markets saw an increase in new listings in November, with 297 new single-family home listings, up 11.2%, and 598 new condo listings, up 30.9%. The condo market saw a notable 93.8% rise in new listings priced at $1,000,000 or above, with 124 at that level compared to 64 a year ago.

• Active inventory showed a modest increase over last month, up 1.1% for single-family homes and 4.7% for condos; the month ended with 749 active single-family home listings and 2,049 condo listings. Single-family home inventory is up 11.5% over a year ago, and condo inventory is up 53.3%.

"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," said Fran Gendrano, Immediate Past President of the Honolulu Board of REALTORS®. "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."

View Full Report Here:

Source: Honolulu Board of Realtors

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