|The February 2022 Oahu Hawaii Housing Inventory Snapshot represents aggregated values based on Honolulu MLS data as of February 25, 2022. Each inventory category includes a link providing the current Honolulu MLS listings for that particular category. The prices presented in the table are average prices meaning that the presented price includes homes priced well below the average list price. The table does not provide the 30-day trends for the list price, sold price, days on market or available listings. If you are interested in a more detailed table with trend percentages, click here to register to receive the monthly report via email.
|The 30-day trend for the average list price is indeed trending downward for a second consecutive month for single family and for luxury family homes. However, the average sold price for single family homes has remained relatively unchanged while the luxury single family homes plummeted nearly 23 percent. The condo/townhome and luxury condo/townhome average list price trended upward during the past 30 days while their average sold price fell. The 30-day average days on market for all categories except condo/townhome fell with the largest decrease in the luxury single family home selling in 42 days. The 30-day trend in inventory for all markets has begun to increase from the previous month.
You must keep in mind that the trends are all short term and most purchase and sales contracts take longer to close than 30-days. None-the-less, the short term market movement provides an indicator into rates of change. Given the trends, we are seeing waning demand in the housing markets as seller adjust their prices down with increasing supply indicating a shift toward a buyers market. However, the average days on market suggested that the market is not stagnant and demand remains strong for the condo/townhome markets.
No matter the market condition opportunity can present itself but only for those who are actively looking and ready to pounce. If you know someone who is considering buying or selling a home, please give me a call. I provide professional and courteous service and have first hand knowledge on Honolulu neighborhoods and communities.
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