Median single-family home price hitting new record with inventory extremely low
Aloha and Happy March,
The demand for single family homes is high and the inventory is extremely low.
The Sparse inventory and sustained demand drove the median single-family home price to a new record high of $1,125,000, up 22.6% from this time last year and 7.1% higher than the previous record of $1,050,000 set in August 2021.
The condo market saw a modest bump in the median sales price of $497,000, rising 8.6% from one year earlier, according to the Honolulu market Board of Realtors.
As always, I love to hear from you! Please don’t hesitate to call!
Thank you,
Judy
