Oahu Luxury Real Estate Update
Luxury Home Overview
After a very active March, the Oahu cooled slightly in April. While the number of sales decreased by about 16% from March, sales volume remains much higher than during the end of 2024 and the beginning of 2025. Pricing strategy is very important right now. Median price decreased about 16% from last month and price per square foot went down 14%.
Nearly a third of homes had price reductions and homes took about a month longer to sell. However, none of the luxury homes that sold in 20 days or less had price reductions, indicating that when a home is priced correctly, it will sell quickly and potentially above asking price. Inventory has gone up notably in the $1.8M-$2.9M range, and slightly in the $3M-$5.9M range. However, we’ve seen less change in pending sales across price ranges.
Luxury Condo Overview
Luxury condo sales continued their upward trend in April, reaching 15 sales, the highest since July 2023. Median price also increased, up 19% from March’s low of $2,100,000. Over 46% of condos had price reductions and price per square foot decreased over 10%. Conversely, a larger proportion of condos sold at or above asking price than in March.
Luxury condos sold nearly two months faster than in March, which was among the longest days on market in our records. Triple digit median days on market is not uncommon in the luxury condo market. This is often due to a couple of units taking a year or more to sell. With the exception of a small decrease in pending sales in the $1.8M-$2.9M range, there was little change in escrows.
Click through the report below for the full update on what happened in Oahu luxury real estate in April.
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Your Luxury Hawaii Real Estate Experts
Whether you are selling or buying Hawaii luxury real estate, it’s essential to work with an experienced, knowledgeable realtor who can guide you through the current market. Expert pricing and negotiation are key strengths of the realtors at Caron B Realty. These skills have allowed us to bring record-breaking sales and multiple offers on our client’s listings. To discuss the market in your area or the value of your home, please call our office at (808) 593-9826 or email concierge@caronb.com
