Oahu Market Report - February 2024

O'ahu Market Report for February 2024 O‘ahu Housing Market Warms Up in February Single-family home and condo sales continue to rise despite modest increase in median prices YEAR-OVER-YEAR REPORT NOW HERE! FEBRUARY 2024 SUMMARY Thus far in the new year, O‘ahu's housing market continues its upward trajectory. SALES VOLUME: When combined with January sales, 2024 shows continued improvement over 2023, with total year-to-date sales up by 7.2% compared to the same period last year. SALES PRICE: Both single-family homes and condos experienced a year-over-year increase in median sales prices by 8.9% and 6.8%, respectively. Single-family homes ended February at $1,075,000, and condos landed at $512,500. DAYS ON MARKET: Median days on market for single-family homes dropped to 30 days from 47 days, while condos stayed on market longer than last year, with a median of 39 days compared to 28 days. NEW LISTINGS: February brought an increase in new listings compared to last year, with 295 in the single-family home market and 533 in the condo market, marking growth of 26.6% and 15.1%, respectively. Notably, the $800,000 to $899,999 price range for single-family homes experienced an 88.0% surge in new listings, while the condo market experienced a 33.8% rise in the $300,000 to $499,999 range. With the exception of Hawai‘i Kai and Kailua, all regions maintained or surpassed last year's new listing volumes for condos. Source: Honolulu Board of Realtors READ THE FULL REPORT HERE YOU'RE INVITED!! CLIENT APPRECIATION EVENT SAT. MARCH 30, 2:00-4:30p Private Screening of ARTHUR THE KING Starring Mark Wahlberg Kailua Cinemas on Keolu Drive Light refreshments served! RSVP HERE! 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. Thanks for reading! Reach out to us anytime, to discuss what today's market means for you. Contact Us

Yvonne Jaramillo Ahearn REALTOR® | RB-20262 M: 808.721.8088 yvonne.ahearn@compass.com Ana Kuna REALTOR® | RB-21908 M: 808.295.2311 ana.kuna@compass.com

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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FEBRUARY 2024 OAHU MARKET REPORT
2023 TO 2024 YEAR OVER YEAR SUMMARY