Realtors: Oahu continues to be a 'seller's market' - Hawaii News Now - KGMB and KHNL

Realtors: Oahu continues to be a 'seller's market'

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HONOLULU (HawaiiNewsNow) -

Oahu continued to see brisk home sales in January, even as median sales prices continued to go up, according to new figures from the Honolulu Board of Realtors.

Eleven of 21 Oahu communities saw an increase in closed home sales in January, compared to the same month in 2015.

And 16 of the neighborhoods saw their median sales prices go up in January 2016. The highest increase was in Waialae-Kahala, where the median price for homes was a whopping $2.1 million, up from $1.3 million the year before.

Officials said the uptick in closed sales islandwide shows that “it’s a seller’s market” on Oahu.

There were 20 closed sales in Makaha-Nakakuli, double the number in January 2015. And 12 in Makiki-Moiliili, from 4 last year.

Ten homes in Waialae-Kahala were snapped up, compared to two in January 2015.

Oahu also saw increases in condominium sales in January.

There were 13 condo sales in Makaha-Nanakuli in January, from five in January 2015. Waikiki saw 63 condo sales, from 43 the year before.

“The latest report confirms that we are still seeing strong demand for housing resales on Oahu, particularly in condominiums,” said Kalama Kim, Honolulu Board of Realtors president, in a news release. “The report shows that, on average, in 10 out of the 21 neighborhoods, the seller’s asking prices was met or exceeded.”

For the full statistics, click here

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