Market Update: Oahu, Hi
Oahu’s luxury real estate market has been busy this spring with a notable increase in luxury single-family home sales of 200%, compared to March 2020, according to recent statistics by the Honolulu Board of Realtors®.
According to the report a total of 48-luxury homes were sold across Oahu this March, while luxury condominiums throughout Oahu saw a total of 8 sales this march. A decrease from the 11 luxury condominiums sold this time last year.
Both luxury single-family homes and luxury condominiums throughout Oahu, Hawaii experienced an increase in their median prices this month, compared to March 2020.
While luxury homes (those priced at or above $1,800,000) now sit at a median price of $2,675,000, a 26.2% increase from this time last year, the median price for luxury condominiums this March is $2,650,000, a 21.7% increase.
In addition, both luxury single-family homes and condominiums are experiencing fewer days on the market compared to March 2020.