Oahu's Housing Market Sees Dip in Single-Family Home Sales

Strategic Insights -

The Oahu real estate market saw a decline in single-family home sales in July, with condo sales remaining flat. According to a report from the Honolulu Board of Realtors, single-family home sales dropped 7.4% to 249 sales from 269 sales in July 2024, while condo sales held steady at 389 sales. The total sales volume year-to-date remains 2.9% behind 2024 levels for single-family homes and 5.1% behind for condos. The median sale price for single-family homes declined by 5.7% to $1,075,000 from $1,140,000 a year ago, while the median price for condo sales fell 3.7% to $490,000 from $509,000.

Key Takeaways:

  • Single-family home sales in July 2025 decreased by 7.4% compared to the same month last year, with 249 sales.
  • Condo sales remained flat in July 2025 with 389 sales, compared to 389 sales in July 2024.
  • The total sales volume year-to-date is behind 2024 levels for single-family homes (2.9%) and condos (5.1%).
  • The median sale price for single-family homes decreased by 5.7% to $1,075,000 from $1,140,000 a year ago.
  • The median price for condo sales fell 3.7% to $490,000 from $509,000 a year ago.
  • Active listings for single-family homes increased by 18% and condo listings by 31.7% compared to the same period last year.
  • Single-family homes and condos were on the market longer than a year ago, with median times rising to 20 days for single-family homes and 50 days for condos.
  • A report from real estate firm Locations suggests that market confidence remains intact, with rising pending sales and increased buyer activity.
  • Competitive pressures could increase later this year if for-sale inventory remains low and mortgage interest rates decrease.

Statistics:

  • Single-family home sales in July 2025: 249, down 7.4% from July 2024.
  • Condo sales in July 2025: 389, flat compared to July 2024.
  • Total sales volume year-to-date for single-family homes: 2.9% behind 2024 levels.
  • Total sales volume year-to-date for condos: 5.1% behind 2024 levels.
  • Median sale price for single-family homes in July 2025: $1,075,000, down 5.7% from $1,140,000 in July 2024.
  • Median price for condo sales in July 2025: $490,000, down 3.7% from $509,000 in July 2024.
  • Active listings for single-family homes: up 18% compared to the same period last year.
  • Active listings for condos: up 31.7% compared to the same period last year.
  • Median time for single-family homes: 20 days in July 2025, up from 15 days in July 2024.
  • Median time for condos: 50 days in July 2025, up from 30 days in July 2024.
  • Average interest rates on a 30-year fixed-rate mortgage: 6.68% as of the week ended July 31.

Sources:

  • Honolulu Board of Realtors
  • Locations
  • Freddie Mac
  • Tribune Content Agency, LLC