With more homes and condos currently for sale than we've seen in years, and interest rates that are returning to last year's levels, now is an opportune time for first-time homeowners, current homeowners who are looking to trade up or real estate investors looking to diversify their portfolios.

Several favorable market conditions are combining to create a window of opportunity for prospective homebuyers in early 2019.

The Oahu real estate market closed out 2018 with its eighth-straight year of appreciation. Home sales peaked in June of last year, while condo sales hit a high mark in April. Days on Market began ticking up for both single-family homes and condos in July, and reached a high point in the year in the month of October. However, listings are still going into escrow in less than four weeks.

August saw a record median price for single-family homes at $810,000. Sales for both single-family homes and condos have flattened out a bit, but are still above the previous 12-month period.