Is Honolulu, HI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Honolulu was a Seller's Market.
Key Takeaway
Honolulu is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Honolulu, HI
How much do homes in Honolulu, HI cost?
Median Sold Price
$647,094
$701/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
-$1,793(-0.3%)
Key Takeaway
The sold price of homes in Honolulu has remained the same since last year.
Summary: The median home sold price in Honolulu was $647,094 in March 2024, down 0.3% from last year, and the median price per square foot was $701.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $420.4K | $412K | -2.0% |
| 2 Bedrooms | $619.8K | $602.4K | -2.8% |
| 3 Bedrooms | $1.1M | $1.1M | + 6.2% |
| 4 Bedrooms | $1.5M | $1.4M | -2.2% |
| 5+ Bedrooms | $1.4M | $1.4M | + 0.8% |
Summary: Honolulu housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Cities
| CITY | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| Honolulu | $648.8K | $647K | -0.3% |
| Ewa | $761K | $756.9K | -0.5% |
Housing Supply in Honolulu, HI
How many homes are available in Honolulu, HI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,642 | 1,836 | +11.8% |
Summary: The Honolulu real estate market had 1,836 homes for sale in March 2024, a 11.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 532 | 595 | + 11.8% |
| 2 Bedrooms | 658 | 742 | + 12.8% |
| 3 Bedrooms | 220 | 248 | + 12.7% |
| 4 Bedrooms | 104 | 114 | + 9.6% |
| 5+ Bedrooms | 128 | 137 | + 7.0% |
Summary: The Honolulu housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 221 | 233 | +5.4% |
Asking Price vs. Sold Price
133 Homes Were Sold
Under Asking
48 Homes Were Sold
At Asking
52 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Honolulu, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 233 homes were sold or pending in Honolulu in March 2024, up by 5.4% month-over-month. Of the 233 sold homes, 57% were sold under asking, 21% were sold at asking, and 22% were sold over asking.
Days on Market for Honolulu, HI
We’re sorry, we don't have information for this market at the moment
Report Updated 4 Days Ago
