4211 Waialae Ave, Kahala Mall, Suite H8 Honolulu, HI 96816
    Contact Us
    808-637-2400

Sunset HomesSunset Homes

North Shore's Premiere Real Estate Company

  • Home
  • Property Search
  • Featured Properties
  • Sold Listings
  • Rental Properties
  • About Us
  • News
  • North Shore O’ahu

March 2021 – Oahu Housing Market

March 2021- Oahu Housing Market

O‘ahu’s Housing Market Sales, Prices Continue to Climb to New Heights in March

Market for single-family homes shatters records with a new median sales price of $950,000

Closed sales of single-family homes and condos saw significant double-digit growth of 19.1% and 52.7%, respectively, compared to pre-pandemic activity last March. For the third consecutive month, the median price for a single-family home set a new record of $950,000, representing a 17.3% year-over-year increase and a 3.5% increase over February’s record of $917,500.

With sustained limited supply and high demand, the number of single-family homes and condos sold over the asking price nearly tripled compared to March 2020. During the first quarter of 2021, single-family homes sold over asking price made up 50% of the sales compared to just 19% in quarter one last year, while condos sold above the list price accounted for 29% of the sales compared to 10% in the previous year’s first quarter.
 
“Despite new listings, demand continues to outpace our limited housing inventory,” said Shannon Heaven, president, Honolulu Board of REALTORS®. “This lack of inventory is driving a very active and competitive market for prospective home buyers on O‘ahu.”

New listings for single-family homes and condos added much-needed inventory to O‘ahu’s housing supply. Single-family homes marked a 12.6% jump with 439 new listings as nearly all regions saw positive growth. The condo market added 715 new listings, marking a 17.2% increase in listings compared to this time last year.

Posted in: News

Post navigation

« February 2021 – Oahu Real Estate
March 2021 – Mililani & Waikiki Real Estate Update »
© 2022 SUNSET HOMES LLC, RB-17682
North Shore's Premiere Real Estate Company Ph: 808-637-2400
Toll Free Ph: 877-607-2400
Fax: 808-637-4200
Toll Free Fax: 877-637-4200
Property Sitemap

Sunset Homes LLC Specializes in North Shore Oahu Real Estate, Beachfront Property, North Shore Oahu Vacation Rentals and Oceanfront Hawaii Homes For Sale. North Shore Real Estate includes Haleiwa, Waialua, Pupukea, Sunset Beach, Turtle Bay and More.