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Housing

Oahu Real Estate Market Sluggish in August

Strategic Insights

— 1 min read

Oahu's real estate market was subdued in August, with prices and sales of preowned single-family homes and condominiums showing minimal movement. According to data from the Honolulu Board of Realtors, the median sales price for single-family homes dipped 1.5% to $1,105,500 from $1,222,000 a year ago, while condo prices inched up 3% to $515,000 from $500,000. Sales for single-family homes increased by 2.4% to 259 from 253, while condo sales decreased by 2.5% to 391 from 401.

Key Takeaways:

  • Median sales price for single-family homes decreased by 1.5% in August, reaching $1,105,500.
  • Condo prices increased by 3% in August, reaching $515,000.
  • Sales for single-family homes increased by 2.4% in August, reaching 259.
  • Condo sales decreased by 2.5% in August, reaching 391.
  • Mortgage interest rates edged lower in August to about 6.5%, with expected rate cuts by the Federal Reserve potentially leading to further decreases.
  • Competitive pressures are increasing for homes and easing for condos, according to local brokerage firm Locations.
  • Bid-ups for homes reached a three-year high in August, while bid-ups for condos reached a five-year low.
  • Pending sales for single-family homes jumped 28.5% year over year to 302, while pending condo sales slipped 1% with 406 contract signings.
  • The Oahu real estate market is following typical seasonal trends, with single-family home prices decreasing slightly in 2025 and condo prices remaining flat.

Statistics:

  • 1.5% decrease in median sales price for single-family homes from August 2024 to August 2025.
  • 3% increase in condo prices from August 2024 to August 2025.
  • 2.4% increase in sales for single-family homes from August 2024 to August 2025.
  • 2.5% decrease in condo sales from August 2024 to August 2025.
  • 6.5% mortgage interest rate in August 2025.
  • 28.5% increase in pending sales for single-family homes year over year.
  • 1% decrease in pending condo sales from August 2024 to August 2025.

Sources:

  • Honolulu Board of Realtors
  • Locations, a local brokerage firm
  • The Honolulu Star-Advertiser (Source: Copyright 2025)
  • Tribune Content Agency, LLC (Source: Distributed by Tribune Content Agency, LLC)

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