March proved to be no different than previous months with median housing prices as well as closed sales remaining steady. With a constricted inventory supply, we continue to see relatively low DOM (days on market).
Inventory continues to be low as home prices on Oahu remain strong. Tied in with higher prices we saw a decrease in the amount of “days on market.”
According to the latest January 2017 housing data by the Honolulu Board of Realtors, the number of single-family homes sold rose by 6.5% and condominium units rose by 11.8% over January 2016.