August Market Update

🏄🏽O’AHU, HAWAII: O‘ahu Home Sales Rise Month-to-Month, Remain Down Year-Over-Year Year-to-date, median sales prices dip for single-family 🏡 and condos🏢. Closed sales of single-family homes and condos declined year-over-year, dropping 19.7% and 16.9%, respectively; however, compared to a month ago, single-family homes recorded a 12.5% uptick in sales, while condo sales remained steady. Compared to 2022, the median sales price for a single-family home dipped 1.4% to $1,110,000, while the condo median sales price increased 3.3% to $515,000. From a year-to-date perspective, the median sales prices for O‘ahu properties fell for single-family homes to $1,050,000, a 5.7% decline from last year, and for condos to $502,000, down 1.6%. Around 33% of single-family homes and approximately 26% of condos sold above their original list price, with sellers receiving an average of 99.1% and 99.6% of their original list prices, respectively.

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