During March 2019, the sales of single-family homes declined by 9.5 percent, while condominium sales decreased by 3.7 percent from March 2018. The median price paid for single-family homes increased by 3.0 percent from the same month last year to $782,500, while the median price paid for condos decreased to $429,000, a 1.4 percent drop from last March’s record-setting median high of $435,000. New listings ended in positive territory with a 12.8 percent and 3.6 percent increase in newly listed single-family homes and condominiums, respectively. Total active listings of single-family homes increased by 33.6 percent and condominiums were up by 23.3 percent over the same period last year. According to the Days on Market indicator, the median days for single-family homes was 24 and 22 for condominiums.
“Oahu’s housing market remains healthy as the spring season begins, and there are favorable opportunities present,” said Jenny L. Brady president of the Honolulu Board of REALTORS®. “Inventory levels have been rising steadily, offering more options at all price ranges. That, coupled with the recent decline in mortgage rates creates opportune circumstances for buyers. Partnering with a licensed REALTOR® is a great first step to ease the transition from browsing to buying.” Source: Honolulu Board of Realtors
Latest posts by Kimo Smigielski (see all)
- March 2018 to 2019 Oahu Home Resale Update - April 10, 2019
- January 2018 to 2019 Oahu Home Resale Update - February 15, 2019
- Fixing Oahu’s Tight Housing Market - October 16, 2018
- 5 Surprising Ways to Help Your Home Sell Faster - July 13, 2018
- 5 Reasons to Love Kahala By The Sea (and 1 Reason You Won’t) - July 12, 2018