The median price of Oahu real estate increased for the 10th consecutive month in February — confirming homebuyers are not being deterred much by the recent mortgage interest rates uptick.
According to July stats gathered by the Honolulu Board of REALTORS®, Oahu prices and sales activity continue on a soaring trajectory, while inventory remains low.
Single family home sales volume was strong in May, kicking off the summer buying season, which typically peaks in June.
With Oahu’s housing inventory shortage dropping to near two-year lows last month, it’s likely homes will sell faster and for more money in the coming months.
With the busy summer selling season for residential real estate on Oahu almost upon us, recent sales prices and volume are up.
The number of single-family homes coming onto the market (supply), is not keeping pace with demand.
While median prices were nearly flat in January, market indicators are consistent with a strong and continuing demand.
Oahu housing market stats from the last month of 2016 reflected an uncharacteristic spike in sales activity as the year came to a close.
With the distraction and uncertainty of the presidential race behind us, Oahu’s real estate market has surged with an unexpected late-year rally.
The inertia of the scorching hot summer season continues.