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Oahu Real Estate Report

July 2022

Market Statistics

Oahu Prices Continue to Rise, at Slower Rate

Median Prices appear to be leveling in 2022 and are still above last year. July median prices of $1,108,000 for homes and $500,000 for condos are up 11% and 6% from last year, respectively. Median prices continue to face upward pressure from strong demand, low inventory, and competitive market conditions, even as they moderate.

Oahu Sales Activity Drops Again in July

Sales in July are down from last year, -24% for homes and down -25% for condos over July 2021. Year-to-date, home sales are now down -11% from last year, while condo sales are flattening, up 2%.

Still a Highly Competitive Market

Bid-ups eased in July, yet are still at very high levels; 49.4% of homes sold in July, and 36.5% of condos sold were bid-up over asking price. Bid-ups are a result of competitive bidding and are an indicator of strong demand. These competitive market conditions point to rising prices continuing through 2022.

SINGLE FAMILY HOMES This Month JULY 2022 Last Month JUNE 2022 Last Year JULY 2021
Median Sale Price $1,107,944 $1,105,000 $1,000,000
Average Sale Price $1,334,905 $1,377,117 $1,268,971
Homes Sold 314 368 416
Median Days on Market 12 11 10
Bid Ups 46% 63% 65%
CONDOMINIUMS This Month JULY 2022 Last Month JUNE 2022 Last Year JULY 2021
Median Sale Price $500,000 $535,000 $470,000
Average Sale Price $590,701 $631,813 $539,899
Condos Sold 519 629 674
Median Days on Market 12 12 12
Bid Ups 37% 43% 36%

MARKET REPORTS

2019 Market Insights Report: View Our 2019 Oahu Real Estate Market Forecast.

View our 2019 Oahu Real Estate Market Forecast
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