Oahu Market Report - September 2023

O'ahu Market Report for September 2023 and REMINDER, Join the A-Team for Halloween!

JOIN the A-TEAM for our monthly Activity, TRICK OR TREAT ON IANA STREET Join the A-Team for Halloween pupus and a casual driveway gathering, to celebrate Halloween. Dress up creatively for BEST COSTUME CONTEST, with both adult and child categories. WHEN: Tuesday October 31st 5:30pm-7:30pm WHERE: Iana St, Kailua COST: FREE! Fun for the whole family! Feel free to trick-or treat down the street or hang at the house, giving out candy. To RSVP, please click HERE or visit ACTIVITIES Page on Our Site.

SEPTEMBER 2023 MARKET REPORT

O‘ahu Home Sales Slow as Mortgage Rates Rise. September sales volume down by double-digits, properties spend approximately three weeks on market. The O‘ahu single-family home market maintained a 12-month rolling average of over 200 sales, with 232 properties sold last month, reflecting a year-over-year decline of 16.5%. However, the condo market 12-month sales average fell below 400 sales for the first time since January 2021. Three hundred and seventy-six condos sold last month, marking a 24.2% dive in sales volume compared to September 2022. In September, the median sales price for single-family homes dipped by 4.5% compared to the previous year, reaching $1,050,000 by month-end. Meanwhile, condos experienced a 6.0% year-over-year increase, with a median sales price of $532,500. Approximately 9% of single-family home sales closed at full asking price, while 38% sold above original asking price. Meanwhile, 22% of condo sales received full asking price and 20% of condo sales closed above the original asking price. Source: Honolulu Board of Realtors READ THE FULL REPORT HERE

MAUI WILDFIRE RELIEF

HOW HOW YOU CAN HELP Please also consider making plans to VISIT MAUI!! (except Lahaina), Maui needs your tourist dollars. Please consider donating cash to one or more of the relief funds of your choice. COMPASS CARES - HAWAII RELIEF FUND PILINA RELIEF FUND MAUI COLLECTIVE CONTRIBUTORS FUND MAUI UNITED WAY MAUI FOOD BANK MAUI HUMANE SOCIETY Please know COMPASS is providing significant financial aid and the A-Team members have all made personal donations, as well. We Thank You For Your Support!

Ask the A-TEAM Use the QR Code or this LINK to ask us any Oahu Real Estate Questions you might have. Your question and our answer may be featured in GoKailua Magazine.

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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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