Hal Wilkerson joined us on Living808 today to give a market update on the everchanging Hawaii real estate market. This month marks a year that Hawaii Property Advisors has given viewers market updates and real estate advice, and what better way to celebrate that than with a review of the October 2023 data numbers.
Single-Family homes:
213 homes sold (a decrease of 4.1%), spending on average 18 days on the market
Condos:
399 condos sold (down 8.3%), spending on average 21 days on the market
When talking about the slight increase in median price from the month prior, Wilkerson says that this is a point of interest.
“We’re seeing less activity in that lower $800K to a 1M, and we’re seeing $1M to $1.5M. That’s really the one bright spot that we’ve got in the face of everything that we’ve seen. Another bright spot is that interest rates did come down by half a point last week.”
Statewide we are still under thirty days for average days on the market which means that we in Hawaii are still considered in a seller’s market.
Hawaii Property Advisors can help you with answer your real estate questions. If you’re on the fence about selling you can scan the QR code in the video to get information about selling, rentals, closing costs, and much much more.
For more information visit hpahomes.com.
