December 2021 Oahu Hawaii Housing Inventory Snapshot

Real Estate Broker/Owner with Hawaii Dream Realty LLC RB-19372

The December 2021 Oahu Hawaii Housing Inventory Snapshot represents aggregated values based on Honolulu MLS data as of December 31, 2021. Each inventory category includes a link providing the current Honolulu MLS listings for that particular category. 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.

Housing Inventory Snapshot  December 31, 2021 
  Average List Price Average Sold Price Average DOM: active/sold listings Number of Listings
Honolulu County, HI
Click to Search Single Family under $1M [MLS Data Based on SFH] $1,479,203 $1,168,010 80 / 23 246
Click to Search Single Family over $1M [MLS Data Based on Luxury SFH] $7,054,784 $4,113,636 129 / 20 70
Click to Search Condo/Townhome under $500K [MLS Data Based on Condo/Townhome] $422,954 $466,079 92 / 30 771
Click to Search Condo/Townhome over $500K [MLS Data Based on Luxury Condo/Townhome] $2,174,308 $1,871,808 123 / 66 255

The 30-day trend for the average list price leaped upwards over 14 percent for both single family and luxury single family homes, while the condo/townhome and luxury condo/townhome dipped 3 and 2 percent, respectively. The luxury single family market 30-day trend in average sold price also leaped upwards to nearly 10 percent while single family home trend was a mere 2 percent increase. However, the luxury condo/townhome 30-day average sold price trend took center stage with a whopping 42 percent jump. The 30-day average days on market for single family homes and condo/townhome is around 3 months with the luxury markets taking remaining active for just over 4 months. The 30-day trend in inventory for all markets covered in this report is downward.  You must keep in mind that the trends are all short term and most purchase and sales contracts take longer to close than 30-days. None-the-less, the short term market movement provides an indicator into rates of change. 

Historically, looking back on 2021, the market was ripe for sellers and appears to still be maintaining some headway into 2022.  What we don't see in the snapshot is that single family and luxury single family markets sales volume and median sale price are both lower than 2020.  Likewise, the condo/townhome and luxury condo/townhome sales volume and median sale price are also lower than 2020.  Interestingly, in 2021, according to the Honolulu Board of Realtors, "the median percentage of the original list price received reached 102% for single family homes and 100% for condos. This means more than half of single family home sellers received more than their original asking price, and at least half of condo sellers received their full asking price or more."  As long as mortgage rates remain low and inflation continues to grow, the short term trend is likely to persist, and with inventory dropping, bidding wars are likely at least for the near term. 

If you know someone who is considering buying or selling a home, please give me a call. I provide professional and courteous service and have first hand knowledge on Honolulu neighborhoods and communities.

If you are considering selling, our digital marketing strategy and distributed print media ensures that your listing gets exposure. If you want to know what your home is worth in the current market Click Here, or for more personalized service, contact me directly at 808-223-0429. 

Posted by

Aloha and Mahalo,

Theresa Harden
Principal Broker e-PRO, SFR, Realtor

Direct: (808) 223-0429
Office: (808) 735-2221
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Skype: theresa.harden
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Honolulu, Hawaii 96815

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Comments (2)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Theresa. Prices are certainly very strong. Then again beauty is not cheap. Enjoy your day 

Jan 12, 2022 03:50 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

That's a new one on me. For homes under 1 million, the average is $1,479,203 ?

Jan 12, 2022 11:42 AM