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Oahu Real Estate Report

October 2022

Market Statistics

Oahu Prices Continue to Rise, at Slower Rate

The September median home price of $1,100,000 is up 5% from last year, and the $505,000 condo price is up 6% from last year. Median Prices appear to be leveling in 2022 and are still above last year. 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 October

The number of sales in September is down from last year and down from last month. Year-to-date, home sales are now down -16% and condo sales down -4% from last year.

Pressures Easing; Still a Competitive Market

Competitive pressures are easing after a surge in 2021. In September, 38% of homes sold and 30% of condos sold were bid-up over asking price. Bid-ups are a result of competitive bidding and are an indicator of strong demand, and these levels still indicate upward pressure on prices through the end of 2022.

SINGLE FAMILY HOMES This Month OCTOBER 2022 Last Month SEPTEMBER 2022 Last Year OCTOBER 2021
Median Sale Price $1,050,000 $1,100,000 $1,000,000
Average Sale Price $1,223,502 $1,296,861 $1,329,708
Homes Sold 219 284 390
Median Days on Market 19 16 11
Bid Ups 37% 38% 61%
CONDOMINIUMS This Month OCTOBER 2022 Last Month SEPTEMBER 2022 Last Year OCTOBER 2021
Median Sale Price $517,000 $505,000 $500,000
Average Sale Price $672,766 $610,227 $583,091
Condos Sold 437 497 612
Median Days on Market 20 15 12
Bid Ups 30% 30% 41%

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