Decline in price, but are buyers back?
Aloha,
The new year begins with closed sales of O‘ahu properties falling year-over-year, with single-family homes dropping 54.0% and condos declining 50.2%, according to the Honolulu Board of Realtors January ended with a single-family home median sales price of $970,000, representing a 7.6% decline compared to January 2022.
The condo market also saw the median sales price dip 2.9% to $495,000.
My observation now in February, shows a different picture. Buyers are back in the market, just taking a little more time to make a decision. Sellers should not be hesitant to list their properties!
As always, I love to hear from you! Please don’t hesitate to call!
Thank you,
Judy
