June 2018 Oahu Real Estate Market Update

Oahu Housing Market Holds Steady in June

Sales and median prices for Oahu single-family homes dipped slightly, while condominiums showed modest gains in June 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
June 2018 365  -1.4% $782,388  -1.6%
June 2017 370 $795,000

Condominium Resales

Number of Sales Median Sales Price
June 2018 547  2.1% $420,000  +5.0%
June 2017 536 $400,000

During June 2018, the median sales price for single-family homes decreased by 1.6 percent to $782,388 from June 2017. The median price for condos increased by 5 percent to $420,000. Sales of single-family homes decreased by 1.4 percent, while condominiums sales rose by 2.1 percent from the same month last year. According to the Days on Market indicator, the median days for single-family homes was 16 and 18 days for condominiums.

“Single-family home prices were at an all-time high and selling at a record pace this time last year, and this year’s numbers are not far off,” said Darryl Macha, president of the Honolulu Board of REALTORS®. “We continue to see a steady upward trend after a slow start to 2018 and anticipate that we’ll see the peak of sales in the late summer months.”

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.