Oahu Real Estate Market Trends: March 2025 Edition
Quick Facts
- Single-family home sales decreased 10.4% year-over-year.
- Condo sales increased 7.3% year-over-year.
- Median sales price for single-family homes rose 5.5% to $1,160,000.
- Median sales price for condos remained steady at $500,000.
Oahu Real Estate Market Update: March 2025 – A Mixed Picture for the First Quarter
As the first quarter of 2025 comes to a close, the Oahu real estate market has delivered a mixed bag of results. According to the Honolulu Board of REALTORS®, single-family home sales have dipped 10.4% year-over-year, while condo sales have risen 7.3%. This unexpected twist has left many wondering what the future holds for the Oahu real estate market.
Single-Family Homes: A Shift in the Market
In March 2025, single-family home sales totaled 206, a 10.4% decrease from the same period last year. While this may seem like a disappointing start to the year, industry experts are quick to point out that the market remains stable and balanced. In fact, single-family homes spent a median of just 15 days on the market in March, eight days less than the previous month. This swift turnaround suggests that buyers are still eager to purchase these sought-after properties.
Another positive sign is the median sales price for single-family homes, which rose 5.5% to $1,160,000 in March 2025. This increase may be attributed to the ongoing interest in luxury properties, as well as the steady demand from local residents and investors.
Condos: A Glance at the Bright Side
On the other hand, condos have seen a significant surge in popularity, with sales rising 7.3% to 369 units sold in March 2025. This growth can be attributed to the increased desirability of condo living, as buyers seeking a more affordable and low-maintenance lifestyle have turned to the condo market.
Interestingly, the median sales price for condos remained steady at $500,000, showing no significant change from the previous year. This stability may be due to the relatively lower price point of condos compared to single-family homes.
What’s Driving the Market?
According to Trevor Benn, President of the Honolulu Board of REALTORS®, interest rates are playing a crucial role in shaping the Oahu real estate market. “There are modest ups and downs in sales and median prices, but interest rates are playing a larger role in affordability than any single month’s price point,” he notes.
As the Federal Reserve continues to navigate the ever-changing economic landscape, it’s essential for real estate professionals and buyers alike to stay attuned to shifts in interest rates. A slight decrease in rates could spark increased activity in the market, while a sudden increase could slow down sales.
What’s Ahead for Oahu Real Estate?
As we move into the second quarter of 2025, it’s essential to keep a watchful eye on the market. While some may view the mixed results as a sign of uncertainty, others see it as an opportunity. With interest rates playing a significant role in affordability, NOW may be the perfect time to enter the market.
At Luva Real Estate, we believe that the key to navigating the Oahu real estate market lies in understanding the intricacies of every transaction. Our experienced agents are dedicated to providing you with personalized guidance and expert insights, helping you make informed decisions that align with your unique goals and aspirations.
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For a more in-depth look at the Oahu real estate market, download the Honolulu Board of REALTORS’ latest report, available exclusively on our website.
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