May 2022 Oahu Hawaii Housing Inventory Snapshot

Theresa

Jun 4

The May 2022 Oahu Hawaii Housing Inventory Snapshot represents aggregated values based on Honolulu MLS data as of May 31, 2022. Each inventory category includes a link providing the current Honolulu MLS listings for that particular category. The prices presented in the table are average prices meaning that the presented price includes homes priced well below and well above the average list price. The table does not provide the quantified 30-day trends for the list price, sold price, days on market or available listings. If you are interested in a more detailed table with numeric trend percentages, click here to register to receive the monthly report via email.

Housing Inventory Snapshot		May 31, 2022
	Average List Price	Average Sold Price	Average DOM: active/sold listings	Number of Listings
Honolulu County, HI
Click to Search Single Family under $1M [MLS Data Based on SFH]	$1,231,042	$1,211,057	45 / 18	361
Click to Search Single Family over $1M [MLS Data Based on Luxury SFH]	$5,785,071	$4,016,974	100 / 66	108
Click to Search Condo/Townhome under $500K [MLS Data Based on Condo/Townhome]	$481,083	$495,642	81 / 28	748
Click to Search Condo/Townhome over $500K [MLS Data Based on Luxury Condo/Townhome]	$2,201,227	$1,884,754	132 / 66	244

The 30-day trend for the average list price fell marginally for all categories except condominiums/townhomes while the opposite trend occurred with the average sold price. Luxury condominiums/townhomes had a double digit rise in the 30-day trend for average sold price with a 12.1 percent increase. When considering all categories, the average days on market and average days sold fluctuated up and down during the past 30 days. The market has experienced a substantial rise in the number of active listings with the 30-day trend for all categories contributing to any additional 223 listings or a 15 percent increase in available properties for sale.

Not too much can be discerned from the mix trends with average days on market or sold but the marginal drop in average list price along with the substantial increase in supply suggest that the market is cooling off. However, the trend for average sold price also suggests that buyers are paying more than asking to get the home of their choosing. No doubt that building supply chain issues are going to help the resale housing market as builders are having to wait longer to get materials. But inflation is going to keep an upward push on the market prices especially while new housing becomes more and more stagnant. Time will tell if the rising interest rates will help to curtail prices but they are still relatively and historically low.

No matter the market condition opportunity can present itself. For example, investors may just want out of the market for a variety of reasons and for tax purposes may be willing to list at below market values. Other times a listed investment property comes with a substantial amount of future revenue. Such opportunities only come to those who are actively looking and ready to pounce. If you know someone who is considering buying or selling a home, please give me a call. I provide professional and courteous service and offer decades of experience on Honolulu neighborhoods and communities.

If you are considering selling, our digital marketing strategy and distributed print media ensures that your listing gets exposure. If you want to know what your home is worth in the current market Click Here, or for more personalized service, contact me directly at 808-223-0429 or email TH@Invest808.com.