At more than halfway through 2024, the Oahu single-family home market is gaining steam while the condo market continues to show signs of easing. Despite higher borrowing costs, home prices are rising, and for-sale inventory is unchanged. On the other hand, condo prices haven’t moved from a year ago, and inventory is approaching a balanced-market level.

The Oahu real estate market remains dynamic as home prices reach new highs in June 2024, with a median of $1,125,000 and condo prices at $528,000. Despite a softening condo market, stable home sales and rising inventories suggest ongoing demand and steady sales through the summer.

The Oahu real estate market remains steady as we head into the summer months. While affordability is still an issue for many homebuyers, Locations anticipates stable sales and flat-to-slightly rising prices throughout Summer 2024, due to continued low supply and strong demand.

The Oahu real estate market is muted but stable, as we head into the peak homebuying season. Pent-up buyer demand is counteracting the dampening effects of higher mortgage rates and economic uncertainty, and steady sales and moderate price increases are expected to continue throughout the summer months in 2024.