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The Oahu real estate market continues to see moderate growth, but limited inventory and short Days on Market mean buyers must be ready to act quickly.
“The Oahu real estate market continues to strengthen in 2017, with steady demand exceeding the available inventory, driving prices above asking and reducing Days on Market to record lows." -Scott Higashi, CEO of Locations
“Low inventory and increasing demand are driving the 2017 market to new heights, with lower days on market despite rising prices. As competition is strongest during the summer months, we anticipate prices to continue to increase as buyers bid-up over the asking price of condominiums and single family homes."-Scott Higashi, CEO of Locations
For the state of Hawaii as a whole, the number of sales remains the same for single-family homes but are up 5% for condos when compared to last month. Median condo prices are down 12% when compared to May2015, and down 8% from a year ago. Statewide, it took a median of 36 days to sell a single-family home and 29 days to sell a condo.
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