Oahu Island Estate Market Update January 2025: The sales price for single-family homes and condos both experienced an increase when compared to one year ago.
The median sales price for single-family homes was $1,120,000, up 9.7% from one year ago. The condo median sales price increased to $539,500, up 7.4% from one year ago.
President of the Honolulu Board of REALTORS®, Trevor Benn, stated, “While demand remains steady, buyers are approaching transactions with more negotiation power, making it essential for sellers to understand market trends and position their properties competitively. A REALTOR® provides the insights and expertise to help sellers navigate pricing strategies, attract serious buyers and achieve the best possible outcome in a shifting market.”
Sales for single-family homes are up 6.5% when compared to this time last year, with 196 sales in January 2025. Homes spent a median of 25 days on the market in January, five days longer than the previous month. In January, 23% of single-family home sales closed above the original asking price. The median sales price for single-family homes was $1,120,000 in January 2025, representing an increase of 9.7% when compared to this time last year.
There were 312 condos sold last month, which is up 6.8% when compared to January 2024. The median number of days on the market for condos was 39 days last month. In January, 10% of condo sales closed above the original asking price. The median sales price for condos in January 2025 was $539,500, representing a 7.4% increase when compared to one year ago.