Oahu Real Estate Market Report for September 2021

Last month, median prices on single-family homes and condos continued rising for September 2021 over 2020.

Closed sales continues to outpace sales activity from the same time last year at 8.4% and 34.9% increases respectively, indicating continued strength to come.  We continue to see strength moving forward as people become more comfortable with traveling and as the economy continues to recover.

September 2021 Single-Family Home & Condo Median Sale Price

The median price for a single-family home remained at $1,050,000, but median condo price rose 7.4% year-over-year to $478,000. Roughly 57% of single-family homes sold in the month of September were priced at $1,000,000 or more, with the most volume growth happening in the $1,000,000 to $1,399,999 range.

Sales in September doubled compared to the previous September, with roughly two out of three single-family homes closing above the original asking price. This was most prevalent in the Ewa Plain region, representing more than 80% of the region's third-quarter sales.

Condo properties in the $700,000 and over price range more than doubled in sales year-over-year, with 129 closed sales compared to 57 last September. 39.6% of the condos sold for more than the asking price in the third quarter. This occured in over 70% of sales in the Central, Ewa Plain, and Makakilo regions.

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