Oahu Real Estate Market Update (October 2023)

 

Market Highlights:

• Sales volume remained stable in October, with both single-family homes and condos experiencing moderate year-over-year declines of 4.1% and 8.3%, respectively.
• Year-to-date, sales in both markets declined approximately 29%
• 43% of single-family home sales (91 properties) closed at or above the asking price
• 187 properties sold for under $500,000.

View Full HBR Report

——The Highest MLS Sales——

 $27,500,000 Cash

1388 Ala Moana Boulevard Unit #3800, Honolulu, HI 96814 (Park Lane)

4 Beds, 4 1/2 Baths 

Sq. Ft: 6,856

Monthly maintenance fee: $10,248.00

DOM: 2

MLS 202319098

$7,200,000 Cash

5949 Kalanianaole Hwy #D, Honolulu 96821 (Paiko Lagoon)

5 Beds, 6 Baths

Sq. Ft: 10,708

List price: $8,800,000

DOM: 870

MLS 202222456

——How is the market?——

Many people ask me this question, and the answer is "it depends". Which area of the market are you interested in? Buying or Selling or Renting? 

For example, this condo in Waikiki caught my attention, so I decided to share. The seller received 15 offers and the condo sold for $103k over asking!

$830,000 Cash

201 Ohua Avenue Unit #3203-T1, Honolulu, HI 96815(Waikiki Banyan)

1 Beds, 1 Baths

List price: $727,000

DOM: 11

MLS 202322570

——Statewide Market Trends——

For more information, please visit hawaiirealtors.com

                    ——Desi's Latest Art Project ——

 "Valencia". Oil painting 11x14

 

——From the Web——

American life-expectancy rates have plummeted to a nearly 30-year low — here’s what’s going on (msn.com)

MAHALO!

Thank you for connecting with me and enjoy the rest of November, my Ohana!

Looking forward to working with you now or in the future...

Sincerely, 

Desi