Oahu Real Estate Market - September 2019

September's sales numbers are in, and single-family home prices are down slightly compared to the same time last year.  With a median sales price of $777,000 versus last years $812,00, prices fell 4.4%.  The number of sales increased 12.3% from 309 to 347 over the previous year.

Condominium sales fell 8.8% with 466 sales versus 511 last September.  Median sales prices are up 4% to $445,000 from $428,000.

“Year-to-date sales are at levels comparable to 2018 and the Oahu median sales prices remains stable. In September, we saw a nearly 49 percent increase in sales of mid-priced single-family homes in the $500,000 to $699,999 price range, which contributed to the decline in the median and average sales price. In contrast, there was a 14.5 percent decrease in mid-priced condominiums in the $300,000 to $599,999 price range last month.”
- Jenny L. Brady, President of the Honolulu Board of REALTORS®.

Real estate demand in Hawaii remains strong across the board as our islands continue to enjoy a stable, healthy market.  Additional condominium developments continue to be approved to meet the growing housing demand.

For more information about market conditions and upcoming condominium developments, contact Sachi Hawaii: (808) 596-8801 or info@sachihawaii.com