Sales of both single-family homes and condos are rising after dipping last spring due to the COVID-19 pandemic. With record-low mortgage interest rates, the market has widened for buyers and sellers. However, extremely limited single-family home inventory is driving up competition among buyers. An all-time high of 43.3 percent of single-family homes sold for above the asking price in October Although competition for condos is not as fierce, it’s heating up, too, as more buyers are out bid on single-family homes or unable to find a home in their neighborhood of choice.

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Single-family homes for sale on Oahu are at a record-low, with fewer homes for sale today than at any other point in time since Locations began tracking the market more than 40 years ago. West Oahu neighborhoods in the Mililani, Ewa and Leeward areas are seeing the lowest inventory, and some of the highest buyer competition.