Oahu median home prices and sales volume are mostly steady with a slight uptrend, and properties are selling quickly, as indicated by the relatively short days on market. The 30.2% increase in pending sales for single family homes and 23.6% for condos shows that there’s continued demand for housing across the board. With the more than 37% increase in active listings for single family houses and 27% increase for condominiums from last year, and mortgage interest rates still very close to the lowest ever, potential buyers have many options for their new home.

The number of closed single family homes was flat at 324, however the median sales price increased to 8.6% to $760,000. The median days on market was 14 days. There are 3 months of inventory, and single family homes are selling on average for 98.4% of their listed price.

The number of closed condos increased 9.6% to 548. The median sales price increased 19.8% to $405,500. The median days on market was 20 days. There are 3.1 months of condo inventory, and condos are selling on average for 97.6% of their listed price.

During April 2016, sales of single-family homes were flat compared to April 2015, while condominium sales increased by 1.3 percent compared to April 2015. The median price paid for single-family homes in April 2016 increased by 6.7 percent from the same month last year to $720,000. The median price for condominiums increased by 5.1 percent from April 2015 to $389,500. This figure represents a new record for the condominium median price on Oahu; the previous record was $386,250, set in December 2015. According to the Days on Market indicator, the median days on market for single-family homes and condominiums was 15 and 19, respectively.