Strong Demand Pushes Median Prices up

Strong demand has pushed median prices up for single-family home and condominiums across Oahu in June. The median prices for single family home and condominiums were $706,500 and $375,000.

They were up 6.1% and 5.6% compared to May. We already saw median prices for single-family homes and condominiums rose in May up until $675,000 and $373,500.

Areas that saw an increase in single-family home prices are Hawaii Kai (23.6%) and Manoa (16.1%). Compared to last year, the number of single-family home and condominium resales are up. The condo markets that continue to show increases in median price include Kailua, Kaneohe, and Waikiki. Single-family home markets with increases in both sales and median price include Hawaii Kai, Kailua, Kaimuki, Kaneohe, Leeward, Mililani, Nuuanu-Makiki, Pearl City-Aiea, and West Honolulu.

For more information on a specific neighborhood, contact us today!

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.