According to the latest report released by the Honolulu Board of REALTORS ® on May 6, last month’s (April 2020) median sales price remained steady and even showed a slight uptick compared to last year.
The report showed single-home median sales price had risen 5.5 percent to $809,000 compared to $766,650 in April 2019. The median sales price for condominiums also rose 7.4 percent from $418,950 to $450,000 compared to last year at this time.
Although COVID-19 has affected the number of listings on the market, Tricia Nekota, president of Honolulu Board of REALTORS ®, remains confident that “once consumers begin to feel some relief from the impacts of the pandemic, it’s likely we will see listing and buying activities slowly increase”.
In the meantime, Nekota also added that “despite our low inventory, REALTORS® continue to help serious buyers secure their perfect home.” If you are considering selling your home, now may be a great time as sale prices remain steady and buyer options may be limited.
Contact Team Aloha Tony to speak with a trusted real estate advisor today!