Real Estate Report - January 2025

O'ahu Market Report - December 2024

O‘ahu’s housing market closed out 2024 on a strong note, with solid year-over-year growth in both single-family home and condo sales. Single-family home sales surged by 25.3%, while condo sales climbed 18.8% compared to December 2023.

Median prices also saw steady gains. The median price for single-family homes reached $1,054,500—a 5.8% increase from last year. Condos hit a new record median price of $540,000, up 5.9% from December 2023 and slightly surpassing the previous peak of $536,000 set in March 2023.

Sellers were active, too. New listings for single-family homes increased by 12.2%, while condo listings jumped by 29.2%. Pending sales also saw growth, rising 6.6% for single-family homes and 6.9% for condos.

While the single family home results were expected given the low level of inventory and steady demand, the condo numbers were stronger than expected. The large increase in condos for sales (56% increased compared to last year) was a threat to slow down the condo market.