The Summer Season on Oahu ended on a high note with closed sales of Single-Family Homes at 12.7% higher than last year when looking at Year-over-Year activity.
The closed sales of Condos dropped by 2.1%. The median Sales Price of Single Family Homes on the island was up a little over 13%, setting a New Record of $880,000 while the median Sales Price of Condos remained the same at $445,000.
The island is definitely in a Seller's Market with a low inventory of homes. The median Days on Market for Single Family Homes fell by 69% to a new record of 9 Days, while median Days on Market for Condos dropped by 22% to just 21 days.
As the market shifts into the fall season, Inventory of Available single-family homes and condos are down 39.3% and 5.8%, respectively, compared to this time last year.
If you've been thinking of selling your home, now may be the perfect time.
