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Competition Continues To Set Records
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Competition Continues To Set Records
August 2017
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In August, both single-family home and condo sales hit their highest point in more than 10 years on Oahu. This is even more remarkable because the pace of sales is currently constrained by limited available inventory.
The Oahu median home price hit $786,000 in August, the second-highest median price on record. The all-time high of $795,000 was reached in June 2017, just two months ago. Prices will likely continue to rise in 2017.
Competitive demand is increasing in the more affordable areas in and around urban Honolulu.
| SINGLE FAMILY HOMES | THIS MONTHAUGUST 2017 | LAST MONTHJULY 2017 | LAST YEARAUGUST 2016 |
|---|---|---|---|
| Median Sale Price | $786,000 | $748,000 | $748,000 |
| Average Sale Price | $923,000 | $883,000 | $917,000 |
| Homes Sold | 385 | 343 | 358 |
| Median Days on Market | 18 | 21 | 17 |
| Bid Ups | 30% | 30% | 37% |
| CONDOMINIUMS | THIS MONTHAUGUST 2017 | LAST MONTHJULY 2017 | LAST YEARAUGUST 2016 |
|---|---|---|---|
| Median Sale Price | $415,000 | $425,000 | $402,000 |
| Average Sale Price | $485,000 | $479,000 | $454,000 |
| Condos Sold | 580 | 486 | 500 |
| Median Days on Market | 18 | 16 | 17 |
| Bid Ups | 25% | 25% | 27% |
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