Oahu Homes Sales Down While Prices Remain Stable

In April, we experienced one of the largest dips in home sales on Oahu in awhile.

This Honolulu home (MLS# 1014958) is priced at April’s median price of $585,000

Existing home sales were down 19.6% from the previous year. Condo sales were also down 6.7%. On a brighter note, prices were stable as the median sales price on Oahu was up 3.5% for homes to $585,000 and down just 0.7% to $305,000 for condos.

Although the dip in home sales may be alarming, April is typically a slower month as people are preparing their taxes. This was also the first bump up in prices this year.

What neighborhoods were great for sellers in April?

• Home sales on the Pearl City–Aiea were up 220%
• Home prices in Aina Haina–Kuliouou were up 109.2%
• Condo sales on the Windward Coast were up 300%
• Condo prices on the Windward Coast were up 74.1%

What neighborhoods were great for buyers in April?

• Home sales in Kalihi-Palama were down 61.5%
• Home prices on the Moanalua-Salt Lake were down 18.7%
• Condo sales in Wahiawa were down 100%
• Condo prices on the Wahiawa were down 100%

As always, all real estate is local. To find out what’s happening in your neighborhood, contact one of our great Realtors on Oahu to see what’s going on in your market, and if now is the time to buy or sell.