Year-to-date median prices show modest gains as third-quarter mortgage rates see gradual decline
In September, the O‘ahu housing market experienced a slight dip in year-over-year sales for both single-family homes and condos. Single-family home sales declined 6.5% compared to September 2023, dropping from 232 to 217 sales, while condo sales experienced a modest 2.7% decrease, with 366 sales compared to 376 a year ago. Year-to-date, single-family home sales are up 5.8%, while condo sales are down 5.6% from last year.
September Summary:
According to the President of the Honolulu Board of REALTORS, “while overall sales volume in both markets softened in September, we did see positive movement in new listings and active inventory, providing more options for prospective buyers. “Paired with the gradual decline in mortgage rates, buyers may feel encouraged to enter the housing market in the coming months.”
source: Honolulu Board of Realtors