Quick Facts

• Median sales price for single-family homes: $1,185,000
• Median sales price for condos: $494,000
• Single-family home sales decreased by 6.7% compared to last year
• Condo sales decreased by 12.3% compared to last year

Oahu Real Estate Market Update: February 2025

As we welcome the new year, the Oahu real estate market is showing signs of change and opportunity. In this article, we’ll dive into the latest statistics and expert insights to help you navigate the current market conditions.

Record-Breaking Single-Family Homes

The median sales price for single-family homes on Oahu reached a record high of $1,185,000 in February 2025, surpassing the previous record of $1,153,500 set in May 2022. This significant milestone is a testament to the continued demand for single-family homes in our island community.

According to the Honolulu Board of REALTORS®, single-family home sales decreased by 6.7% compared to this time last year, with 167 sales in February 2025. However, homes are still selling quickly, with a median time of 23 days on the market, two days less than the previous month. This trend suggests that property inventory is still a major factor in the market, and buyers are willing to act quickly to secure their dream home.

Condo Market Sees Decrease

On the other hand, the condo market experienced a 3.6% decrease in median sales price, with a median price of $494,000 in February 2025. Condo sales also decreased by 12.3% compared to February 2024, with 293 units sold last month. The median days on the market for condos was 48 days, indicating that there may be a slight increase in inventory in this sector.

Market Shift Creates Opportunities

As we analyze these statistics, it’s clear that the Oahu real estate market is undergoing a significant shift. With the single-family home median price reaching a record high and condo inventory expanding, buyers and sellers alike must adapt to these changing market conditions.

According to Trevor Benn, President of the Honolulu Board of REALTORS®, “Understanding pricing strategies and market dynamics is critical in this evolving landscape.” As a REALTOR® can provide expert guidance, helping buyers navigate available options and sellers position their properties competitively to achieve the best possible outcome.

What Does This Mean for Buyers and Sellers?

For buyers, this market shift presents a great opportunity to find a dream home at a competitive price. With the single-family home market reaching new heights, buyers may find more flexibility in negotiations and a wider range of properties to choose from.

On the other hand, sellers should focus on highlighting the unique features and benefits of their properties to attract potential buyers. With the condo market experiencing a slight decrease in sales, sellers may need to be more aggressive in pricing and marketing their units to stand out in a competitive market.

Expert Insights and Guidance

At Luva Real Estate, we’re dedicated to providing expert guidance and insight to our clients. Whether you’re a seasoned real estate professional or a first-time buyer or seller, our team is here to help you navigate the Oahu real estate market.