When buying or selling real estate, it's always important to keep track of the market. Let's take a look at statistics for February 2019:
(all data is courtesy of MLS and Honolulu Board of Realtors)
A snapshot of the Oahu market as a whole.
Both condos and single family homes median sales price remain consistent with a gradual slope upwards.
Median days on market have increased a bit. This is not any cause for alarm though, this is still indicative of a very strong market slowing down a bit.
Inventory has creeped up, but most sellers are still getting full asking price (percentage of original price received).
Prices continue to gradually increase. Time in the market usually beats timing.
Closed sales seem to be down overall. A little bit of a slowdown from a booming market.
Here's a snapshot of the Ala Moana - Kakaako Condo market for February 2019.
For more questions about the local market, please contact your friendly neighborhood expert.
Isaiah Block (RB-21893)