O‘ahu Housing Market Holding Strong

Low mortgage rates continue to drive healthy market activity

Mortgage interest rates continue to average near historic lows, with this week’s average 30-year fixed-rate mortgage falling to a record low of 3.29%.

October 2019 Oahu Home Sales

October 2019 Oahu Home Sales

Oahu Single-Family Home and Condo Sales Strengthen in October

“We continue to see healthy activity across O‘ahu’s real estate market, especially when it comes to sales of single-family homes in the affordable to mid-range price categories,” said Jenny L. Brady, President of the Honolulu Board of REALTORS®.

September 2019 Oahu Home Market Update

Oahu single-family home sales strengthen in September

“Oahu’s single-family home market performed strongly through the third quarter of 2019,” said Jenny L. Brady, President of the Honolulu Board of REALTORS®. “Year-to-date sales are at levels comparable to 2018 and the Oahu median sales prices remains stable. In September, we saw a nearly 49 percent increase in sales of mid-priced single-family homes in the $500,000 to $699,999 price range, which contributed to the decline in the median and average sales price. In contrast, there was a 14.5 percent decrease in mid-priced condominiums in the $300,000 to $599,999 price range last month.”

July 2019 Oahu Home Sales Report

Median prices for single-family homes and condos reach new high

“This level of year-over-year sales increases was last seen in 2017,” said Jenny L. Brady, President of the Honolulu Board of REALTORS®. “The rise in sales numbers demonstrates robust contract signings over the last few months as buyers actively worked with their REALTORS® to close on offers. Lower mortgage interest rates may have enabled buyers to consider a slightly wider price range. A large portion of the year-over-year increases occurred at above-median price points. This July, there were 80 single-family homes that sold in the $900,000 to $1,199,999 price range, compared to 51 last year. For condominiums and townhouses in the $500,000 to $699,999 price range, there were 149 sold this July compared to 106 last year.”