Steep Competition, High Demand Drives Record-Setting Month for O‘ahu Real Estate Median sales price for a single-family home reaches $978,000 in May
HONOLULU – According to resales figures released this week by the Honolulu Board of REALTORS®, closed sales of single-family homes climbed 63.3% and more than doubled for condos with 135.4% more sales compared to this time last year on O‘ahu. In stark contrast to the low activity of May 2020 amid pandemic uncertainties, May 2021 set new records with the median sales price of a single-family home rising to $978,000 – breaking the previous record of $950,000 (3 comments)
HONOLULU – According to resales figures released this week by the Honolulu Board of REALTORS®, closed sales of single-family homes on O‘ahu increased 5.6% and remained relatively steady from last month, while condo sales decreased 6.2% compared to this same period the previous year. Year-to-date, single-family home sales are almost back on track with 2019 activity and were down just 0.7%. Meanwhile, the condo market is struggling to recover to pre-pandemic levels and remained down by a double-digit percentage of 15.8%.