HBR Monthly Market Stats Jan. 2025: New year kicks off on a high note Honolulu Board of Realtors® statistics released this week for January report more homes and condos sold last month, and at higher prices, than a year ago, bucking the usual winter sales slowdown. Single-family sales volume increased by 6.5%, while condo volume was up 6.8%. Median sales prices increased 9.7% and 7.4%, respectively. And while rising […]
HBR Monthly Market Stats Dec. 2024: Oahu condo sales pace slows, while prices strike all-time high O‘ahu’s housing market wrapped up 2024 with positive gains, as both single-family home and condo sales saw year-over-year increases. While affordability is a key consideration in home buying, year-end housing statistics released this week by the Honolulu Board of Realtors® reveal market indicators are mostly positive. Annual single-family sales on Oahu in 2024 rose by […]
HBR Monthly Market Stats Nov. 2024: Unseasonal sales activity rebounds across the board as prices tick up Despite seasonal fluctuations in the market, trends that typically lean toward a slowdown in home sales in November/December, the Honolulu Board of Realtors® reports atypical double-digit increases in condo and single-family home sales last month, along with bump-ups in prices as well. In the single-family home market, the $900,000 to $1,199,999 price range accounted for […]
HBR Monthly Market Stats Oct. 2024: Oahu Real Estate Market Sees Increased Sales and Inventory The Federal Reserve again cut its benchmark interest rate this week by a quarter percentage point, bringing 30-year, fixed-rate mortgages at First Hawaiian Bank to 6.5%, and a 15-year fixed rates to 5.625%. “Real estate is all about affordability, and lower rates will definitely help buyers to qualify, and boost affordability. With new listings and […]
HBR Monthly Market Stats Sep. 2024: Mortgage interest rate cuts improve affordability, renews optimism for buyers In September, the Federal Reserve cut its benchmark interest rate by half a percentage point — the first such cut since 2020 — and may precede another rate cut later this year, which could domino into even lower mortgage rates in 2025. First Hawaii Bank currently offers 30-year fixed-rate mortgages for 6.0%, and 15-year, fixed-rate […]
HBR Monthly Market Stats Aug. 2024: Oahu’s housing demand remains high Inventory is up, offering more choices for buyers across the island. And on top of more active inventory, comes more new listings, along with steady prices, and is breathing renewed enthusiasm among buyers. In August, the Honolulu Board of Realtors® reported condominium inventory increased more than 50% over the past two years, with the most […]
HBR Monthly Market Stats July 2024: Mortgage interest rates dip to lowest levels in nearly 15 months The welcomed news of lower mortgage interest rates — the lowest in nearly 15 months — will provide qualified buyers lower, predictable monthly payments and more buying power in a market where affordability is a challenge. Yet despite months of high mortgage rates and rising insurance costs, the median sales prices of homes and condos […]
HBR Monthly Market Stats June 2024: Housing market heats up, despite dip in condo sales Typically, as the summer temperatures get hotter, so does Oahu’s real estate market. June median sales prices for single-family homes and condos saw a modest, year-over-year increase. There was also a modest increase in single-family home sales last month, also very typical for summer. However, condo sales volume in June took a significant dip, dropping […]
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HBR Monthly Market Stats May 2024: Summer sales data show strong activity in more affordable price ranges As the real estate market kicks into summertime high gear, affordability is at the forefront of buyer’s minds. And with mortgage rates hovering near 7%, and affordability low, buyers — even first-timers — are finding a path to success by zeroing in on the most reasonably-priced properties on the island, even it means downsizing their […]
HBR Monthly Market Stats April 2024: HBR reports positive recovery signs for Oahu’s housing market Despite higher mortgage rates, and recent increases in homeowner’s insurance rates due to fire and weather events around the country, including the Lahaina tragedy, island home values remain strong. Yet, while home values have increased, affordability faces challenges as the increasing cost of homeownership is forcing buyers to reexamine their buying plans. Mike James, president […]
HBR Monthly Market Stats March 2024 Oahu Market Snapshot March 2024 Oahu Market Snapshot Aloha! Spring is here, and while the real estate market didn’t quite blossom as expected in March, there are still some positive signs. Sales Single-family home sales dipped slightly year-over-year (2.5%), but the median sales price held strong, rising 1.5% to $1,100,000. Condo sales, however, saw a more significant drop […]
HBR Monthly Market Stats February 2024 Oahu Market Snapshot February 2024 Oahu Market Snapshot Aloha! Spring is almost here and the Hawaii real estate market is warming up! Here’s a summary of key February trends for both buyers and sellers, based on the latest statsistics released by the Honolulu Board of REALTORS®.: Market Highlights: Sales: Overall sales volume increased slightly year-over-year (YoY). Condo sales […]
HBR Monthly Market Stats HBR Monthly Market Stats for January 2024 January 2024 Oahu Market Snapshot Aloha! I’m pleased to share this market report with you, based on the latest statistics released by the Honolulu Board of REALTORS®. Oahu’s housing market saw an uptick in sales in January 2024 (compared to the same time last year), however properties stayed on the market a bit longer. Here’s […]