February 2018 Oahu Real Estate Market Update

February 2018 Oahu Real Estate Market Update— Housing prices and sales for Oahu were mixed in February according to resales figures released today by the Honolulu Board of REALTORS®. The analysis conducted by the Board using data collected from its computerized Multiple Listing Service (MLS) system show the following statistics:

Single-Family Home Resales

Number of Sales Median Sales Price
February 2018 217  -1.8% $772,500 +2.3%
February 2017 221 $755,000

Condominium Resales

Number of Sales Median Sales Price
February 2018 385 +6.4% $409,000  +6.2%
February 2017 362 $385,000

*Median price means half the prices were above and half below the given price.  **Condominiums also includes town homes.

During February 2018, sales of single-family homes decreased slightly by 1.8 percent from February 2017, while condominium sales increased modestly by 6.4 percent. The median price paid for single family homes increased by 2.3 percent from the same month last year to $772,500. The median price for condominiums was $409,000, an increase of 6.2 percent. According to the Days on Market indicator, the median days for single-family homes was 19 and 23 days for condominiums.This February 2018 Oahu Real Estate Market Update information was provided by the Honolulu Board of Realtors.

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.