Aloha! Here are the October updates.
CONDOS コンドミニアム
The median price of Condominium went down slightly this month. The first drop since March 2021.
The number of Pending Sales is down; however, the absorption rate is at an amazing 73.7%, which translates to only 1.36 months worth of inventory. The inventory level is still at about 25% of Pre-Pandemic days.
Single Family Homes 戸建て
The median price went down for the first time since January 2021. Still, the median price is +13.8% Year over Year.
The number of Active Listings increased slightly from last month to 101. This includes about TEN yet-to-be-built homes on Alii Drive. We are still at about 60% inventory level compared to Pre-Pandemic.
The number of Pending Sales is down, but the absorption rate is still strong at 42% or 2.3 months worth( 5-6 months is a neutral market). Which indicates we are still in the seller’s market here.