The Oahu real estate market remained extremely competitive for buyers in March. Both single-family homes and condos entered into contract in record time, and a high percentage of properties was sold for above the list price. As a result, median prices were pushed to record highs yet again. The Oahu condo market, in particular, is becoming increasingly competitive, as more buyers look to condos for greater availability and more accessible price points.
Rising mortgage interest rates may temper aggressive market conditions slightly in the coming months; however, with strong buyer demand and low for-sale inventory, it’s unlikely that higher rates will affect the market much.
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