February 2021 Oahu Monthly Housing Statistics: O‘ahu Real Estate Market Continues a Record-Setting Year

By March 6, 2021March 21st, 2021Monthly Statistics
An infographic of with colors of blue and white in a wintry theme with a chart of statistics of Oahu, Hawaii's housing market in the month of February 2021.

The February 2021 Monthly Housing Statistics Report by the Honolulu Board of Realtors® says:

O‘ahu Real Estate Market Continues a Record-Setting Year

Single-family homes reach a new median sales price high of $917,500 while condo market activity heats up

“The O‘ahu housing market continued to see strong sales throughout February, with single-family home sales increasing 5.3% and condominium sales soaring 41.1% over last year. Most notably, the single-family home market set a record median sales price of $917,500, a nearly 20% year-over-year increase and a 3.9% jump above last month’s record of $883,000.

Fierce competition between buyers continues, with 48.5% of single-family homes and 29.1% of condo sales sold above asking price last month. The record-setting pace of sales continued in February, as single-family homes spent only nine days on the market.

‘Demand for limited inventory and increased purchasing power through low-interest rates has placed sustained upward pressure on prices,’ said Shannon Heaven, president, Honolulu Board of REALTORS®. ‘While the record-setting median price and pace are good news for sellers, it creates a challenging environment for buyers who are up against the tough competition.'”

Download the report below (PDF, 1.6MB filesize) to learn more.