09/11/2024
Housing Market Update for August 2024.🏡
Active listings surged last month, with single-family homes up 27% and condos up 64% year-over-year. Despite more choices across O‘ahu, sales remained steady.
• Single-family home sales inched up 0.4%, while condo sales dipped 5%.
• Median prices saw slight shifts: $1.12M for homes (up 1%) and $500K for condos (down 3%).
• Homes sold faster, with a median of 14 days on the market, compared to 28 days for condos.
• 30% of homes and 15% of condos sold above asking price.
• New listings increased, giving buyers more options in almost every region and price range.
“With more inventory, buyers have greater choices, but prices and sales volumes are holding steady due to ongoing demand,” said Fran Gendrano, Honolulu Board of REALTORS® President.
For more information about the current market contact us today! 🌺
Love Where You Live! 🌺
Karen Riley, ABR, MRP, GREEN
Realtor-Associate®, RS-83826
UNITED HOME GROUP |
KELLER WILLIAMS HONOLULU, RB-21303
Cell: (808) 829.8290
Web: Karen.homesourceoahu.com