Home and condo prices on Oahu were down 4.5% from a year ago. This is David Buck with Harcourts Island Real Estate here to give you the monthly statistics for June of 2023.
Single Family Home Stats
First off, we'll dive into the single family home stats. There we saw the median price for a home drop 4.5%. In June of 2022, that price was $1,100,000. Now, we're at $1,050,000. Sales volume is also continuing that trend of slowing down, which was down 30.5% regarding the number of transactions. We had 357 home sales last year and now we're just at 248.
Median Days on Market are also increasing, which was up 70%.That is going from 10 days a year ago to 17 days today. Stay tuned and we'll be right back with the condo stats.
Condo Stats
As I mentioned earlier, the median condo price was also down 4.5% from June of last year. Last year we saw a median price of $534,000. Now, we're at $510,000. Sales volume was also down for condominiums, going from 626 sales a year ago to 470 sales this year. That's a 24.9% drop.
Last, but not least, median Days on Market is increasing as well going from 11 to 18 days (63% increase). I hope you all had a great 4th of July. We'll be reporting on the local neighborhood reports (later this month). In the meantime, I hope you're enjoying your summer! It's a great time to get out there, whether you're buying or selling real estate.
