As we enter the fourth quarter, the O‘ahu housing market shows promising signs of recovery. Single-family home sales grew 22.5% year-over-year, from 213 to 261 sales, while condo sales observed a modest 1.5% increase, rising from 399 to 405 sales. Month-over-month activity also improved, with single-family homes up 20.3% and condos increasing by 10.7%.

Our October Monthly Statistics Report shows

• Median prices for single-family homes remained unchanged from last October at $1,100,000, while condo median prices experienced a modest 1.9% increase, reaching $525,000.
• Single-family homes and condos recorded a median days on market of under one month, at 16 and 26 days, respectively.
• Both markets saw an increase in new listings in October, with 298 for single-family homes, a 9.6% year-over-year uptick, and 597 for condos, up 5.5%.
• Active inventory remained elevated year-over-year, with single-family homes up 18.4% to 741 listings and condos up 49.8% to 1,957 listings; month-over-month, single-family homes dipped 1.9%, while condos rose 3.7%.