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Hawaii Statewide Real Estate Report

May 2020

Market Statistics

Price Activity Mixed in May

Hawaii State Median Sale Price movement is mixed in May 2020, with the home price up 9% to $736,428 and the condo price down -6% to $420,000 from last year.

Home and Condo Sales Dropped Again in May

Hawaii State sales activity is down in May 2020, with home sales down -41% and condo sales down -55% from last year.

Coronavirus Starting to Show Effects on Sales

Hawaii real estate sales are down significantly in May due to the effects of the coronavirus pandemic and economic shutdown. We believe that sales will be impacted 20-25%, prices 0-5%, and recovery will be swift, with the market rebounding within the year. Neighbor islands will feel more negative effect than Oahu.

SINGLE FAMILY HOMES This Month MAY 2020 Last Month APRIL 2020 Last Year MAY 2019
Median Sale Price $736,428 $712,500 $678,000
Average Sale Price $897,117 $881,899 $804,722
Homes Sold 446 556 755
Median Days on Market 31 36 45
Bid Ups 17% 16% 17%
CONDOMINIUMS This Month MAY 2020 Last Month APRIL 2020 Last Year MAY 2019
Median Sale Price $420,000 $455,000 $447,000
Average Sale Price $505,900 $600,122 $571,122
Condos Sold 362 504 804
Median Days on Market 33 43 41
Bid Ups 9% 10% 13%

MARKET REPORTS

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View our 2019 Oahu Real Estate Forcast