After a slow start to the year, there are signs that the Oahu real estate market is returning to typical seasonal patterns this spring.
In March, median prices for single-family homes and condos increased by 11 percent over the previous month, while sales increased by 35 percent and Days on Market dropped by six days. The condo median price also reached a new high—pushed up in part by homebuyers who have been priced out of the single-family home market.
Rising prices, sales and bid-ups, along with falling Days on Market, point to continued buyer demand, despite higher borrowing costs. Finally, a lack of for-sale inventory remains a challenge, even as new listings increased in March.
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