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Oahu Real Estate Report

March 2017

Market Statistics

Oahu Home prices hit $760,000 in February 2017, the highest on record.

February median sale prices are $760,000 for single‐family homes and $390,000 for condos, up 9% and 3% respectively from last year.

Prices will likely continue to rise in 2017.

As strong competition continues, more homes and condos are bid‐up over their asking price, and median prices are pushed upward. In February, 1 in every 3 homes sold and 1 in every 4 condos sold were bid‐up over asking price.

Condo sales are starting off strong

Condo sales are starting off strong in 2017, with year‐to‐date sales up 14% over 2016 and up 30% over 2015.

Inventory for sale is at record lows, and demand is high.

Low inventory and pent‐up demand are the main factors driving the competitive Oahu market. If no new properties came on the market, the current supply of listings would sell out in under 3 months.

SINGLE FAMILY HOMES This Month MARCH 2017 Last Month FEBRUARY 2017 Last Year MARCH 2016
Median Sale Price $754,000 $760,000 $726,000
Average Sale Price $933,000 $900,000 $904,000
Homes Sold 316 230 308
Median Days on Market 17 22 20
Bid Ups 28% 31% 28%
CONDOMINIUMS This Month MARCH 2017 Last Month FEBRUARY 2017 Last Year MARCH 2016
Median Sale Price $400,000 $390,000 $385,000
Average Sale Price $464,000 $478,000 $457,000
Homes Sold 492 375 494
Median Days on Market 16 22 21
Bid Ups 25% 26% 22%

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