$3,978 Closing Credit*
$335,000
864 SqFt
2 Beds
•1 Full Bath
Listing Office: Hawaii Life
Is Honolulu, HI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Honolulu was a Seller's Market.
Key Takeaway
Honolulu is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Honolulu, HI
How much do homes in Honolulu, HI cost?
Median Sold Price
$691,200
$709/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$52,112(+8.2%)
Key Takeaway
Homes in Honolulu have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Honolulu was $691,200 in November 2024, up 8.2% from last year, and the median price per square foot was $709.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $415K | $415K | 0.0% |
| 2 Bedrooms | $610K | $609.5K | -0.1% |
| 3 Bedrooms | $1.1M | $1.1M | +2.3% |
| 4 Bedrooms | $1.4M | $1.6M | +13.8% |
| 5+ Bedrooms | $1.5M | $1.5M | +1.8% |
Summary: Honolulu housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Honolulu | $639K | $691.2K | +8.2% |
| Ewa | $758.8K | $776.3K | +2.3% |
Housing Supply in Honolulu, HI
How many homes are available in Honolulu, HI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,928 | 2,048 | +6.2% |
Summary: The Honolulu real estate market had 2,048 homes for sale in November 2024, a 6.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 631 | 677 | +7.3% |
| 2 Bedrooms | 749 | 806 | +7.6% |
| 3 Bedrooms | 284 | 306 | +7.7% |
| 4 Bedrooms | 104 | 103 | -1.0% |
| 5+ Bedrooms | 160 | 156 | -2.5% |
Summary: The Honolulu housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 2.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 278 | 249 | -10.4% |
Asking Price vs. Sold Price
147 Homes Were Sold
Under Asking
57 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Honolulu, you may be able to get a good deal. 59% of homes here sold below asking price last month.
Summary: A total of 249 homes were sold or pending in Honolulu in November 2024, down by 10.4% month-over-month. Of the 249 sold homes, 59% were sold under asking, 23% were sold at asking, and 18% were sold over asking.
Days on Market for Honolulu, HI
How long does it take to sell a home in Honolulu, HI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 55 Days | 60 Days | +9.2% |
Summary: Homes in Honolulu had an average of 60 days on market in Nov 2024, up by 9.2% compared to last year.
Breakdown of Home Sale Times
120 Homes Were Sold
Under 30 Days
71 Homes Were Sold
In 30 - 90 Days
58 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Honolulu are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 249 homes were sold in Honolulu; 48% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
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