The Oahu housing market started the New Year with a bang. Median prices for single-family homes rose by seven percent to $779,000, while single-family home sales ticked up one percent over last year to 258, the most January home sales since 2005.
On the condo side, the median price rose by 12 percent to $439,000—shattering the previous record of $425,000, which was set in July 2017. Condo sales dipped slightly over last year, with about 17 fewer units sold.
Prices will likely continue to rise as the year goes on. While interest rates are still relatively low, they are nearing a three-year high. So if you’re on the fence about owning a home this year, now is the time to talk to a REALTOR® about your options.