HONOLULU (KHON2) — The number of homes for sale on Oahu is lower than ever, while demand remains high.
According to the Honolulu Board of Realtors, there are currently just over 400 active single family homes for sale. A year ago, there was nearly double that.
Meanwhile, the cost of buying a home has also increased over the last year.
In February 2021, the median price of a single-family home on Oahu was $917,500, according to the Honolulu Board of Realtors. In comparison, in February 2020, the median sales price of a single-family home was $765,000. That’s almost a 20% increase in one year.
“I’ve never seen it with this low of inventory and this amount of buyers,” said Shannon Heaven, the President of the Honolulu Board of Realtors.