Oahu Real Estate Market Update October 2022

 

Market Highlights:

• Buyer activity continues to slow with closed sales of single-family homes dropping 41.7% and condos falling 28.8%
• For single-family homes, 50% of sales closed below the original asking price. 
• The Diamond Head and Ewa Plain regions experienced the most significant reduction in sales volume, falling 62% and 53%, respectively.
• Fewer new listings were added to the market, dropping 24.2% for single-family homes and 25.8% for condos year-over-year.

——Statewide Market Stats——

——The Highest MLS Sales——

        

$10,250,000 (cash)

1388 Ala Moana Blvd #6304, Honolulu 96814 (Park Lane)

3 Beds, 3 1/2 Baths 

Sq. Ft: 3,298

List price: $10,980,000

DOM: 20

MLS 202210379

$6,100,000 (cash)

3003 Kalakaua Ave #5B, Honolulu 96815

2 Beds, 2 Baths

Sq. Ft: 2,304

Year Built: 1962

List price: $6,600,000

DOM: 147

MLS 202209774

——Neighborhood Spotlight——

For this month I chose Moanalua-Salt Lake, because that's the neighborhood with the biggest decrease in closed sales- 77% (followed by Kaneohe with 67% and Ewa with 50%). 

Curious about a certain neighborhood? Click HERE.

——Quote of the Month——

Thank you for allowing me to serve you and help you with your real estate needs. 

I am looking forward to continue helping you and your family.

Mahalo!

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