Once again Oahu home sales have set a record! Closed sales of single-family homes rose 49.3%, and condo sales skyrocketed 134.0% compared to June of last year when real estate activity first began to pick up following the economic standstill brought on by the pandemic. The median sales price of a single-family home edged past last month’s record to reach $979,000, while the condo median sales price of $460,000 was just shy of the standing record of $461,500 set in July 2019. The condo market continues to bustle with activity, setting a new record low days on the market at a median of just 11 days. Meanwhile, single-family homes continue to move into escrow quickly, spending a median of 8 days on the market. Sellers added much-needed inventory to the market, with June marking a 23.0% increase in new single-family home listings and a 31.1% increase in condo listings. So far, in 2021, the trend of properties selling over the asking price persists, with 57.7% of single-family homes and 32.9% of condos closing above the original asking price.
