As we head into late fall, the Oahu real estate market is showing some signs of easing—even as the single-family home median price remains at $1M for the fourth month in a row and the condo median price hit $500,000 for the second time.

The Oahu single-family home median price remained above $1M for the third month in a row in September. However, even as prices continue to be pushed upward due to a combination of strong buyer demand, low inventory, and competitive market conditions, the market is showing some signs of moderating.

The Oahu single-family home median price topped $1M for the second consecutive month in August, while the condo median price reached a new benchmark at $500,000. The resale condo market is becoming increasingly competitive, as more buyers look to condos and townhouses, either as alternatives to single-family homes or as investment properties.

The Oahu single-family home median price reached a record-high $1M in July 2021, surpassing previous record-high medians set in May and June of this year. Market conditions have been leading up to a $1M median single-family home price for some time, as lack of available inventory continues to drive up prices and fuel buyer competition.