Oahu Housing Inventory Snapshot as of August 28, 2022
The August 2022 Oahu Hawaii Housing Inventory Snapshot represents aggregated values based on Honolulu MLS data as of August 28, 2022. 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 and well above the average list price. The table does not provide the quantified 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 numeric trend percentages, click here to register to receive the monthly report via email.
The Single Family Home MarketThe single family home market has remained relatively stagnant with respect to average list price and average sold price while inventory has crept upwards. The luxury single family home markets continues to trend upwards with respect to pricing likely associated with less available inventory.
The Condominium/Townhome MarketThe condominium/townhome market has experienced an increase in list prices although the average sold price has dropped as has inventory. With dropping inventory, the condominium/townhome market may be ready for an increase in average sold price. If you are in the market for a luxury condominium/townhome, both average list price and average sold price has dropped but so has the inventory.
Oahu Housing Inventory SummaryOverall, inventory is providing more options to buyers but prices continue to make records despite the rising interest rates. Ultimately the affordability for those who need a mortgage is going to make the market more challenging. However, no matter the market condition opportunity can present itself. For example, investors may just want out of the market for a variety of reasons and for tax purposes may be willing to list at below market values. Other times a listed investment property comes with a substantial amount of future revenue. Such opportunities only come to those who are actively looking and ready to pounce.
Ready to AssistIf you know someone who is considering buying or selling a home, please give me a call. I provide professional and courteous service and offer decades of experience 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 or email TH@Invest808.com.