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Competition Continues To Set Records
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Competition Continues To Set Records
Q1 2020
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Hawaii State Median Sale Price movement is up in 2020 Q1, with the home price up 4% to $710,000 and the condo price up 6% to $455,000 from last year.
Hawaii State sales activity is up in 2020 Q1, with home sales up 16% and condo sales up 0% from last year.
Hawaii real estate sales through March 2020 are not yet showing effects of the coronavirus pandemic and economic shutdown. We believe that sales will be impacted 20-25%, prices 0-5%, and recovery will be swift, with the market rebounding within the year. Neighbor islands will feel more negative effect than Oahu.
| SINGLE FAMILY HOMES | This Quarter 2020 Q1 | Last QUARTEr 2019 Q4 | Last YEAr 2019 Q1 |
|---|---|---|---|
| Median Sale Price | $710,000 | $700,000 | $685,000 |
| Average Sale Price | $866,949 | $889,169 | $831,505 |
| Homes Sold | 1,861 | 2,019 | 1,606 |
| Median Days on Market | 46 | 39 | 43 |
| Bid Ups | 16% | 17% | 13% |
| CONDOMINIUMS | This Quarter 2020 Q1 | Last QUARTEr 2019 Q4 | Last YEAr 2019 Q1 |
|---|---|---|---|
| Median Sale Price | $455,000 | $450,000 | $430,000 |
| Average Sale Price | $586,483 | $562,920 | $561,579 |
| Condos Sold | 1,819 | 2,061 | 1,815 |
| Median Days on Market | 45 | 41 | 40 |
| Bid Ups | 10% | 13% | 10% |
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