The October 2021 Oahu Hawaii Housing Inventory Snapshot represents aggregated values based on Honolulu MLS data as of October 31, 2021. Each inventory category includes a link providing the current Honolulu MLS listings for that particular category. However, as noted below, the single family home markets average list price is now exceeding $1 MILLION dollars but the link is still set to only present single family homes priced under $1 Million dollars. Keep in mind that the prices presented in the table are average prices meaning that the presented price includes homes priced well below the average list price. The table does not provide the 30-day trends for the list price, sold price, days on market or available listings. If you are interested in a more detailed table with trend percentages, click here to register to receive the monthly report via email.
What jumps out immediately in this month's report is the average list price and average sold price for the single family home market. The average list price is well above $1 MILLION dollars and even the average sold price is above the $1 Million dollar mark. The prices affirm that the single family home market, typical of first time buyers, has reached a new high. We are also seeing a corresponding increase in the average price point for the luxury family home market at $3.8 Million dollars.
Given the single family home price point, no surprise that the condominium/townhome market has increased slightly in both average list price and average sold price from the previous month. More substantially, the luxury condominium/townhome market average sold price leaped up nearly 18 percent from September.
With the condominium/townhome market getting most of the attention, supply of active listings for the condominium/townhome market increased by 4 percent. We are not seeing much fluctuation with average days on market but the luxury condominium/townhome market average days on market dropped by 16 days. For the near term the prices are likely to hold with increased demand pressure on the condominium/townhome markets.
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