Oahu Housing Inventory Snapshot
The June 2024 Oahu Hawaii Housing Inventory Snapshot represents aggregated values based on Honolulu MLS data as of June 27, 2024, and depicting a robust Oahu housing market across all segments with varying degrees of price increases and market activity. Single-family homes and luxury properties show stable to moderate price increases, while condos and luxury condos exhibit stronger price appreciation. The decrease in days on market for sold properties across most segments indicates a competitive market environment with properties selling relatively quickly compared to previous periods. Overall, the Oahu housing market presents opportunities for both buyers and sellers, who should remain vigilant and adaptable in response to evolving conditions.
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Each inventory category in the above table 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. State of the Oahu Housing MarketThe latest housing inventory snapshot for Oahu County, HI, as of June 27, 2024, provides valuable insights into the current state of the housing market in the region and appears strong across different property types, characterized by generally increasing average prices and active market participation. The market for single-family homes on Oahu shows steady increases in both average list and sold prices over the last 30 days, albeit at a moderate pace. Days on market for active listings have slightly decreased, indicating ongoing demand and relatively quick turnover for sold properties. The luxury segment shows notable increases in both list and sold prices, indicating strong demand and potential seller confidence. While days on market for active listings have decreased significantly for sold properties, suggesting a robust market for high-end homes. Condo and townhome prices have shown a slight increase in list prices and a more significant rise in sold prices over the past month, indicating strong buyer activity. Days on market for sold properties have improved slightly, suggesting a balanced market with active turnover. The luxury condo and townhome market has shown a decrease in average list prices but a substantial increase in sold prices, indicating strong demand despite the higher price points. Days on market for sold properties have improved significantly, suggesting active buying interest in upscale condominiums and townhouses. While some segments like luxury condos have seen fluctuations in list prices, there's consistent growth in sold prices, indicating varying levels of demand and market dynamics. Additionally, we are seeing noticeable variability in demand across the housing segments. Luxury properties, both single-family homes and condos/townhomes, show robust demand as evidenced by significant increases in sold prices which suggests a strong appetite for high-end real estate on the island. Generally, days on market for sold properties have decreased or remained stable across all segments which can indicate that properties are selling relatively quickly once listed, reflecting the fore mentioned active buyer interest and competitive market conditions. | |||||||||||||||||||||||||||||||||||
Ready to Assist
The market appears favorable for sellers due to rising prices and relatively quick sales, while buyers may find opportunities in segments showing price stability or potential for growth. The increase in active listings for condos and townhomes, especially luxury ones, suggests a dynamic market.
Buyers and sellers should consider their specific goals, financial situations, and the local real estate market dynamics. Consulting with a real estate professional can provide tailored advice based on the current conditions in the Oahu housing market.
If you know someone who is considering buying or selling a home, please give me a call. I offer decades of experience on Honolulu neighborhoods, communities, and cash generating properties. If you want to know what your property is worth in the current market Click Here, or contact me directly at 808-223-0429 or email TH@Invest808.com.
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