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Oahu Real Estate Report

February 2023

Market Statistics

Oahu Median Prices Down Compared to February 2022

The Oahu single-family home median price fell by 11 percent from February 2022 to $999,000--the third month-to-month decline and the second consecutive month that the median was below $1M since July 2021. The condo median price decreased by three percent from last year to $480,500.

Oahu Sales Activity Down from February 2022

Single-family home sales were down by 30 percent from February 2022, while condo sales declined by 34 percent. Sales typically bottom out in February before picking up again in the spring.

Median Days On Market Up From February 2022

Single-family homes were on the market for a median of 41 days in February, while condos were on the market for a median of 30 days—an increase of 27 days for homes and 16 days for condos from a year ago. However, active listings and pending sales suggest that this jump in Days on Market is a temporary spike rather than a trend.

SINGLE FAMILY HOMES This Month FEBRUARY 2023 Last Month JANUARY 2023 Last Year FEBRUARY 2022
Median Sale Price $999,000 $986,000 $1,125,000
Average Sale Price $1,421,439 $1,141,186 $1,483,948
Homes Sold 171 158 245
Median Days on Market 41 26 14
Bid Ups 24% 34% 56%
CONDOMINIUMS This Month FEBRUARY 2023 Last Month JANUARY 2023 Last Year FEBRUARY 2022
Median Sale Price $480,500 $488,000 $495,000
Average Sale Price $592,956 $626,712 $591,738
Condos Sold 322 279 491
Median Days on Market 30 23 14
Bid Ups 19% 25% 36%

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