$10,000 Closing Credit*
$1,098,000
1,134 SqFt
2 Beds
•2 Full Baths
Listing Office: Associated Real Estate Advisor
Is Honolulu, HI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$688,705
$711/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$48,060(+7.5%)
Key Takeaway
Homes in Honolulu have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Honolulu was $688,705 in October 2024, up 7.5% from last year, and the median price per square foot was $711.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $411.8K | $415K | +0.8% |
| 2 Bedrooms | $608.7K | $607.3K | -0.2% |
| 3 Bedrooms | $1.1M | $1.1M | 0.3% |
| 4 Bedrooms | $1.4M | $1.6M | +10.8% |
| 5+ Bedrooms | $1.4M | $1.5M | +6.9% |
Summary: Honolulu housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
| Honolulu | $640.6K | $688.7K | +7.5% |
| Ewa | $758.7K | $773.4K | +1.9% |
Housing Supply in Honolulu, HI
How many homes are available in Honolulu, HI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,924 | 2,073 | +7.7% |
Summary: The Honolulu real estate market had 2,073 homes for sale in October 2024, a 7.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 621 | 677 | +9.0% |
| 2 Bedrooms | 753 | 810 | +7.6% |
| 3 Bedrooms | 282 | 302 | +7.1% |
| 4 Bedrooms | 113 | 113 | 0.0% |
| 5+ Bedrooms | 155 | 171 | +10.3% |
Summary: The Honolulu housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 239 | 278 | +16.3% |
Asking Price vs. Sold Price
174 Homes Were Sold
Under Asking
63 Homes Were Sold
At Asking
41 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Honolulu, you may be able to get a good deal. 62.6% of homes here sold below asking price last month.
Summary: A total of 278 homes were sold or pending in Honolulu in October 2024, up by 16.3% month-over-month. Of the 278 sold homes, 63% were sold under asking, 23% were sold at asking, and 15% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 67 Days | 54 Days | -19.2% |
Summary: Homes in Honolulu had an average of 54 days on market in Oct 2024, down by 19.2% compared to last year.
Breakdown of Home Sale Times
150 Homes Were Sold
Under 30 Days
78 Homes Were Sold
In 30 - 90 Days
50 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 October 2024, 278 homes were sold in Honolulu; 54% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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