Sales in Oahu continue their consistentcy for June 2019. Modest sales price growth can be seen across Single-Family and Condominium sales, with 2.3% and 3% increase in sales price over 2018, respectively.
On the flip side, volume is down 10.4% for houses and 13.5% for condominiums over last year, leading to an increase in inventory. This matches the overall trend for 2019 of a slightly cooling market in terms of volume, as 2018 set a record-pace for both number of sales and price.
According to Honolulu Board of REALTORS® President Jenny L. Brady, “Even with the increases in inventory, we’re seeing the majority of sold properties on the market for less than 30 days. Additionally, sellers who are working with REALTORS® are closing with median prices at 98.2 percent of the original list price for single-family homes and 97.2 percent for condos."