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After rising steadily since 2017, the number of homes for sale is now trending down again. Months of Remaining Inventory for single-family homes is lower than last year, at 3.4 months. However, there are more condos for sale this year than a year ago.
Million-dollar homes on Oahu are getting smaller, but home size has been shrinking faster in some local markets than others.
Maui single-family home and condo prices continued to rise in Q3 2019. The median single-family home price was $744,373, up 7 percent from last year and the median condo price was $515,000, up 6 percent from last year.
As anticipated, competitive market conditions have returned to the Oahu real estate market. October was a particularly strong month, as low mortgage interest rates, along with years of pent-up demand, pushed up sales. While active listings are still up island-wide, in more than half of Oahu market areas there are fewer homes for sale than a year ago.
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