Oahu Real Estate Market Update: June 2024

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Oahu Island Estate Market Update: June 2024 Market Overview

The resale figures released by the Honolulu Board of REALTORS® saw a slight increase in single-family homes sales, up by by 4.0%, while condo sales saw the largest decline dropping 24.5% compared to this same time last year.


Compared to June 2023, the sales price for both single-family homes and condos rose this month. The median sales price for single-family homes was $1,120,000, 6.7% more than one year ago. The condo median sales price rose to $530,000, up 3.9% from one year ago. “While O‘ahu’s residential real estate market has remained relatively stable through the first half of the year, we saw a significant drop in condo sales last month, which the threat of rising insurance costs may have influenced,” said Fran Gendrano, president of the Honolulu Board of REALTORS®. Gendrano added, “As our community seeks opportunities to increase inventory, affordability and housing opportunities for all, buyers and sellers can benefit from working with a trusted REALTOR® who can guide them through the complexities of the real estate market.”

Single-family home inventory continued to rise in June, up 7.9% compared to June 2023. Sales for single-family homes are up 4.0% when compared to this time last year, with 258 sales in June 2024. Homes were on the market for an average of 15 days in June, up just 1 day when compared to the previous month. The median sales price for single- family homes was $1,120,000 in June 2024, representing an increase of 6.7% compared to this time last year.

Condo inventory increased 49.2% when compared to June 2023. There were 355 condos sold last month, which is down 24.5% when compared to June 2023. The average days on the market for condos was 26 days last month. The median sales price for condos in June 2024 was $530,000, representing a 3.9% increase when compared to one year ago.