Oahu Island Estate Market Update January 2025: The sales price for single-family homes set a record high of $1,185,000 in February 2025, surpassing the previous record of $1,153,500 set in May 2022.
Condos experienced a decrease of 3.6% with a median sales price of $494,000 in February.
“With the single-family home median price reaching a record high and condo inventory expanding across the island, market conditions are shifting, creating different opportunities for buyers and sellers,” said the President of the Honolulu Board of REALTORS®, Trevor Benn. “In this evolving landscape, understanding pricing strategies and market dynamics is critical. A REALTOR® will provide expert guidance, helping buyers navigate available options and sellers position their properties competitively to achieve the best possible outcome.”
Sales for single-family homes are down 6.7% when compared to this time last year, with 167 sales in February 2025. Homes spent a median of 23 days on the market in February, two days less than the previous month. The median sales price for single-family homes was $1,185,000 in February 2025, representing an increase of 10.2% when compared to this time last year.
There were 293 condos sold last month, which is down 12.3% when compared to February 2024. The median number of days on the market for condos was 48 days last month. The median sales price for condos in February 2025 was $494,000, representing a 3.6% decrease when compared to one year ago.