February 2019 Oahu Real Estate Market Update


Oahu’s sales prices for single-family homes and condominiums experienced small increases 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 2019  208 $789,000
February 2018 217 $772,500 2.1%

Condominium Resales

Number of Sales Median Sales Price
February 2019 321 $415,000
February 2018  385 $409,00 1.5%

During February 2019, the median price paid for single-family homes increased by 2.1 percent from the same month last year to $789,000. The median price paid for condos also increased to $415,000, up by 1.5 percent. The sales of single-family homes declined by 4.1 percent, while condominiums sales decreased by 16.6 percent from February 2018. Active listings of single-family homes increased by 41.6 percent, while condominiums increased by 30.9 percent over last February. According to the Days on Market indicator, the median days for both single-family homes and condominiums was 25 days.

“We continued to see slower sales in Oahu’s housing market in February, but at higher prices with modest increases for both single-family homes and condominiums,” said Jenny L. Brady president of the Honolulu Board of REALTORS®. “We’re also seeing double digit increases in active listings. Steady sales volume, moderate price increases, and more inventory across all price ranges are all positive indications of a healthy real estate market.”

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.