Here is our 4/10/2024 e-mail update. We send the newsletter after the Honolulu Board of Realtors posts the preceding month’s statistics on their website. You can read past newsletters by visiting the link below.  Our quarterly newsletter includes valuable real estate information not included in our monthly updates Past Newsletters You may also listen to our Monthly Newsletter from our recently created podcast, Real Estate Tips of the Day & Quarterly Real Estate Articles by clicking the link below: Stott Real Estate, Inc. Podcast The March median sales price for single-f ..read more

The February median sales price for single-family homes was $1,075,000 (8.9% higher than February 2023) and for condos was $512,500 (6.8% higher than February 2023). The Oahu real estate market appears to be recovering from the interest rate increases of 2022 and 2023 with both supply and demand showing modest growth. 3.5% more single-family homes sold in February compared to February 2023 and 2.8% more condos sold.  The number of new single-family homes available in February grew 26.6% and the number of condos grew 15.1% as more sellers are deciding to get off the fence.   ..read more

The January median price for single-family homes was $1,021,016 (5.3% higher than January 2023) and for condos was $502,500 (1.5% higher than January 2023).  The Oahu housing market showed signs of stirring from its mortgage-rate doldrums with both rising supply and demand.  22.7% more single-family homes closed in January compared to the previous January and 6.2% more condos sold.  One month does not make a trend. Pending sales, homes under contract but not yet sold, are slightly lower than the previous year.  Buyers may start having more selection with ..read more

| PRINT REPLICA |   The December median price for single-family homes was $996,500 (5.1% lower than December 2022) and for condos was $510,000 (1.5% higher than December 2022). Demand continues to fall with 9.9% fewer single-family homes and 24.4% fewer condos sold this December compared to the same month last year.  Single-family home sales have fallen twenty-three consecutive months and condo sales have dropped for nineteen straight months. The number of available properties, both single-family homes and condos, appears to be stabilizing yet scarce.  There are still ..read more

The December median price for single-family homes was $996,500 (5.1% lower than December 2022) and for condos was $510,000 (1.5% higher than December 2022). Demand continues to fall with 9.9% fewer single-family homes and 24.4% fewer condos sold this December compared to the same month last year.  Single-family home sales have fallen twenty-three consecutive months and condo sales have dropped for nineteen straight months. The number of available properties, both single-family homes and condos, appears to be stabilizing yet scarce.  There are still only 2.8 months of single ..read more

The November median price for single-family homes was $1,100,055 (4.3% lower than November 2022) and for condos was $516,179 (7.5% higher than November 2022).  Demand continues to decline with 6.3% fewer homes and 8.8% fewer condos sold last month compared to the previous November.  Pending sales have fallen 12.1% for single-family homes and 14.2% for condos indicating a further drop in demand for December and January.  The number of new properties coming on the market is falling since homeowners want to hold onto their current low interest mortgages, yet the over ..read more

The October median price for single-family homes was $1,100,000 (4.8% higher than October 2022) and for condos was $515,000 (1.0% lower than October 2022).  Demand has leveled off with a 4.1% drop in single-family home sales compared to last year and an 8.3% drop in condo sales.  Properties under contract waiting to close show a similar trend with pending sales for single-family homes dropping 3.0% and for condos dropping 5.0% compared to the previous year.  Supply is stabilizing as well with 4.6% fewer single-family homes for sale and 9.4% more condos for same co ..read more

P R I N T | R E P L I C A  The September median sales price for single-family-homes was $1,050,000 (4.5% lower than September 2022) and for condos was $532,500 (6.0% higher than September 2022).  Higher interest rates continue to weigh on demand with 16.5% fewer single-family homes selling in September compared to the year before and 24.2% fewer condos selling.  The market continues to search for a bottom.  There were 7.6% fewer single-family homes listed in September and 14.1% fewer condos.   The S&P CoreLogic Case-Shiller National Home Price Index ..read more

The September median sales price for single-family-homes was $1,050,000 (4.5% lower than September 2022) and for condos was $532,500 (6.0% higher than September 2022).  Higher interest rates continue to weigh on demand with 16.5% fewer single-family homes selling in September compared to the year before and 24.2% fewer condos selling.  The market continues to search for a bottom.  There were 7.6% fewer single-family homes listed in September and 14.1% fewer condos.   You can review more detailed current and past real estate market data on our website using th ..read more

The August median sales price for single-family homes was $1,110,000 (1.4% lower than August 2022) and for condos was $515,000 (3.3% higher than August 2022).  Demand continues to slide with a 19.7% drop in single-family home sales last month and a 16.9% drop in condo sales.  Pending sales continue to decline with 14.4% fewer single-family contracts waiting to close and 10.5% fewer condo contracts.  Fewer sellers are putting their homes on the market with a 13.4% reduction in new single-family home listings and 9.7% fewer condo listings.  It appears that ..read more