September real estate statistics were recently released by the Honolulu Board of Realtors and two records were broken for single-family homes! These numbers may reflect the changes in demand for lifestyle homes, larger homes. There was a much less severe decrease in inventory during the second stay at home order than the first. Read on for a statistical update on the general and luxury markets of Oahu.
SFH
- Median price for SFH reached a record high of $880,000
- DOM for SFH reached a record low of 9 days
- Total closed sales over last September up by 12.7%
- Most activity in the 700k-1.4M range, with an increase of 39.4% over last year
- Number of homes over 2,000 sq ft sold increased by 37.9%
- Homes closing above asking price increased from 79 last year to 163 this September
- Inventory is down from last year by 39.3%
Condo
- Median price held steady at $445,000
- Encouraging to see the condo sales increasing from last month by 11.5% and only 2.1% away from last year’s number.
- Condos sold 6 days faster than September 2019
- Condos closing above asking price increased from 62 last year to 82 this September
- Inventory is down from last year by 5.8%
SFH
- 9% increase in number of closed homes compared to last year
- Homes are selling faster that last month at 78 days compared to 88, but slower than last year at 66 days
Condo
- Total sold condos increased from 6 last month to 15 this month, only 1 shy of the 16 of September 2019
- Condos are selling faster than last month at 82 days compared to 114 last month and 127 last year