Oahu Luxury Market Overview
In quarter 3, Oahu luxury home sales saw a slight decline in most metrics. There were three fewer sales and an 11-day longer average time on the market. While median price rose over 5%, the price per square foot dropped by 6%. Local residents accounts for over two-thirds of luxury home purchases in Q3. Inventory showed slow but steady growth across most ranges.
There was not much activity in the Oahu luxury condo market in quarter 3. Condos sold faster in Q3 and there was no change in the median price stable. Inventory is increasing in the $1,800,000-$2,999,999 price range. Mainland corporations were the leading condo buyers, while Japanese buyers remained scarce.
Click through this report to learn about what happened in the Oahu luxury real estate market in the third quarter of 2024. See the the top single-family home and condominium sales, data on active listings and escrows, and statistical comparisons to quarter 2 2024.
You 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. Follow us on YouTube for biweekly videos on the Hawaii real estate market and local community.
Curious about the value of your home?
Online tools like Zillow offer convenient estimates of home values. However, they often lack the nuanced understanding and personal touch that a real estate agent provides. Click here to learn why it’s important to get an expert assessment of the value of your home, whether you’re making plans to sell, are wealth or financial planning, or are just curious.
