SINGLE FAMILY HOMES
In December, we saw the Days on Market for single-family homes fall substantially to just over two weeks.
We also saw the number of sales and the median price increase.
These quicker sales indicate seller pricing has become more aligned with the shifting market and the sellers are pricing their properties very close to market value from the start rather than testing the market.
While condo median prices also saw an increase over December 2018, the number of sales decreased.
Additionally, the days on market increased which may reflect a couple things...1) original condo lists prices are higher than buyers are willing to pay and 2) an overall increase of inventory means condos are taking longer to sell as buyers have more choices.
Remember, this is just a snapshot of Oahu as a whole during one month of time. EVERYTHING is highly neighborhood-specific so reach out if you want to drill down to see what's going on in your neck of the woods!