December 2017 Oahu Real Estate Market Update

Our December 2017 Oahu Real Estate Market Update shows Oahu single-family home sales were up, while condominium sales decreased according to resales figures provided by the Honolulu Board of REALTORS®.  Although there was a decline year over year in condominium sales this is due to the higher than normal 24% increase in December 2016 when compared this this past December.  The following statistics are provided by the MLS (multiple listing service)

Single-Family Home Resales

Number of Sales Median Sales Price
December 2017 361  +5.9% $750,000  +2.7%
December 2016 341 $730,000

Condominium Resales

Number of Sales Median Sales Price
December 2017 461  -12.2% $405,000  +3.8%
December 2016 525 $390,000

During December 2017, sales of single-family homes rose by 5.9 percent, while condominiums sales decreased by 12.2 percent from December 2016. The median price paid for single-family homes in December 2017 increased by 2.7 percent from the same month last year to $750,000, while the median price for condos increased by 3.8 percent to $405,000. According to the Days on Market indicator, the median days for both single-family homes was 20 and 18 days for condominiums.

The housing market set several new records during 2017. Three records were set in June when the median price of single-family homes hit a high of $795,000 while also selling at a brisk 12 days on market for single-family homes and 13 days for condos. In July, the median price for condos reached $425,000 for the first time, which was repeated in September.


About the Author

Brandon Lau grew up in Kailua and currently resides in Honolulu with his wife Andee and children Caylah, Elijah, and David. His eighteen years in real estate led him to become a Partner at ChaneyBrooks Choice Advisors. Over the past 10 years he has developed the team and systems that has created a high level of service and value for his clients.

What differentiates Brandon and his team is his consultative approach to real estate. He advises clients with relevant data and expert insight to help them make the best choices in real estate. Good choices in planning for long term dispositions, negotiating for the best price or knowing when not to pursue an investment are ways his consultative services will give you an advantage in the marketplace. His bottom line is providing service with the utmost integrity and expertise.