January 2019 Oahu Real Estate Market Update


HONOLULU (Feb. 6, 2019) — Oahu’s housing market experienced welcomed increases of inventory for both single-family homes and condominiums in January 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
January 2019  246 $767,500
January 2018 252 $772,000 0.6%

Condominium Resales

Number of Sales Median Sales Price
January 2019 326 $399,000
January 2018  374 $430,00 -7.2.%

During January 2019, the median price paid for single-family homes decreased slightly by 0.6 percent from the same month last year to $767,500. The median price paid for condos decreased to $399,000, down 7.2 percent from last January’s high of $430,000. The sales of single-family homes declined by 2.4 percent, while condominiums sales decreased by 12.8 percent from January 2018. New listings of singlefamily homes increased by 21.8 percent, while condominiums increased by 18.8 percent over last January. According to the Days on Market indicator, the median days for both single-family homes and condominiums was 27 days.

“We started 2019 with very healthy increases in new listings for both single-family homes and condominiums, adding to the inventory available to potential buyers,” said Jenny L. Brady, 2019 president of the Honolulu Board of REALTORS®. “In recent years, this volume of listing activity would have been more typical during the spring and summer months, so buyers have more options to consider earlier in the year. Conditions point towards a balanced market for both buyers and sellers.”

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.