October Market Report
Positive Start for O‘ahu Real Estate in Fourth Quarter
Median prices for single-family homes remained unchanged from last October at $1,100,000, while condo median prices experienced a modest 1.9% increase, reaching $525,000.
Single-family homes and condos recorded a median days on market of under one month, at 16 and 26 days, respectively.
Both markets saw an increase in new listings in October, with 298 for single-family homes, a 9.6% year-over-year uptick, and 597 for condos, up 5.5%.
Active inventory remained elevated year-over-year, with single-family homes up 18.4% to 741 listings and condos up 49.8% to 1,957 listings; month-over-month, single-family homes dipped 1.9%, while condos rose 3.7%.
“With an uptick in sales across both single-family homes and condos, coupled with stable median prices, O‘ahu’s housing market shows resilience entering the fourth quarter,” said Fran Gendrano, President of the Honolulu Board of REALTORS®. “With increased inventory and new listings, prospective buyers have more flexibility to find the home that best fits their needs.”
