Oahu market rebounds: prices, sales volume, new listings up in January
Hawaii Home
by nrtadmin
1M ago
There are some excellent reasons to be excited about the future of our local real estate market.   Prices are up. The Honolulu Board of Realtors® released the stats from January that show the year-over-year median price of real estate was up last month — back over $1 million for single-family homes and over $500,000 ..read more
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Oahu’s housing market: A year in review
Hawaii Home
by nrtadmin
2M ago
The Honolulu Board of Realtors® reported the following summary of the 2023 Oahu housing market: Properties spent longer on the market compared to 2022 — from 12 days before a contract was signed to 22 days for a single-family home and 21 days for a condo. And while the annual median sales price in both ..read more
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Home prices plateau after more than a decade of gains
Hawaii Home
by nrtadmin
3M ago
With one month left to go in 2023, year-to-date median home prices have held — dipping only slightly compared to a year ago — a testament to the solidity of Oahu’s overall market. As of November 30, single-family homes sold year-to-date at a median price of $1,060,000 (a 4.5% drop for the year), while condos ..read more
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Oahu’s housing market stays course while enduring challenges
Hawaii Home
by nrtadmin
4M ago
Since March 17, 2022, the Federal Reserve has raised interest rates 11 times in 20 months — the most recent in July 2023— bumping up mortgage interest rates from a national average of 4.16% in March 2022 to nearly 7.76% today— and dealing a big blow to prospective homebuyers looking to finance their purchase. Despite ..read more
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Discover Oahu’s most affordable neighborhoods, and creative buying strategies
Hawaii Home
by nrtadmin
5M ago
Despite multiple Federal Reserve’s rate hikes to ease inflation, Oahu’s housing market has remained resilient thanks to a limited inventory of available homes for sale and strong demand. While single-family inventory shortages have kept prices from falling, condo sales pushed prices to near-record highs last month. Historically, Oahu’s housing supply has significantly trailed demand. With ..read more
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Oahu home prices remain resilient
Hawaii Home
by nrtadmin
6M ago
It was only two years ago — August 2021 — when the median sales price of an Oahu home topped $1 million for the first time. Despite an economy-crippling pandemic and multiple mortgage rate hikes over the past 24 months, the MSP has slipped under $1 million only three times — and barely so. Oahu’s ..read more
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Oahu home prices remain resilient
Hawaii Home
by nrtadmin
6M ago
It was only two years ago — August 2021 — when the median sales price of an Oahu home topped $1 million for the first time. Despite an economy-crippling pandemic and multiple mortgage rate hikes over the past 24 months, the MSP has slipped under $1 million only three times — and barely so. Oahu’s ..read more
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Oahu Demand and Sales Prices Remain Steady
Hawaii Home
by NRT Admin
8M ago
Rising interest rates and hand-wringing challenges aside, Oahu’s housing market’s steadfast value is strong. “The economic obstacles affecting our market are certainly real, but overwhelmingly, our market — and specifically our product — has a long-standing and constant value,” says Mike James, president of Coldwell Banker Realty. “Buyers are resolute in their desire to own ..read more
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Oahu’s housing market on solid ground despite rising rates
Hawaii Home
by NRT Admin
8M ago
While the effects of rising interest rates on home prices is ongoing, the market, in general, appears to have stabilized, as the summertime cycle kicks off. The median sales price for both single-family homes and condos were modestly down, to $1,050,000 and $510,000, respectively. The number of days on the market remains relatively quick, with ..read more
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Oahu home prices vibrant, despite rising interest rates
Hawaii Home
by NRT Admin
10M ago
In January, the median sales price of a single-family home dipped below $1 million for the first time in 17 months, landing the month at $970,000, according to the Honolulu Board of Realtors. February numbers reported the single-family MSP at $987,000. In March, the MSP surged to $1,083,750, only to drop again in April to ..read more
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