Real Estate Market Update February 2023

 

Market Highlights:

• Year-over-year, single-family home and condo sales dropped 28.2% and 33.1%, respectively. 
• Roughly 189 Oahu properties sold for under $500,000 in February
• New listing volume declined 36.5% for single-family homes and 37.3% for condos from a year ago.
• Only 19% of single-family homes sold above the original asking price compared to 55% in February 2022
• The Ewa Plain region experienced the largest decline in sales volume, falling 40.4% year-over-year, followed by the Metro region, declining 55.2%

——The Highest MLS Sales——

        

$ 8,300,000

2411 Makiki Hts Dr, Honolulu 96822 (The Spalding House)

7 Beds, 5 Baths 

Sq. Ft: 18,919

Year Built: 1940

List price: $9,500,000 (First listed in 2019 for $15M)

DOM: 49

MLS 202224058

$8,250,000

369A,369 Portlock Rd, Honolulu 96825

5 Beds, 6 1/2 Baths

Sq. Ft: 6,720

Year Built: 1989

List price: $8,950,000

DOM: 12

MLS 202300758

——Statewide Market Trends——

For more information, please visit Housing Trends | Hawai'i Association of Realtors® (hawaiirealtors.com)

——Join Desi at the art exhibit——

I am very proud to announce that 2 of my paintings got accepted at the Ultra Exhibit in downtown Honolulu. Please join me this Thursday from 4.30pm till 6.30pm. Mahalo!

Thank you for connecting with me. 

Sincerely, 

Desi