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June 2022 Oahu Housing market - decreased Sales volume, longer days on the market

denisemiyahira

Rising Interest Rates Cause Ripple Effects Across O‘ahu’s Housing Market REALTORS® see decreased sales volume, reduced asking prices, active listings up for longer

However, sales volume is still up compared to pre-pandemic 2019 levels. Halfway through 2022, the condo market continues to outperform single-family homes, with condo salesup 7.5% and single-family home sales down 8.8%. Single-family homes priced at $899,999 and below dropped 48%, but condo sales at higher price points rose considerably. Condos sold in the $700,000 to $799,999 price range with double the number of sales as the same period one year ago, and condos in the $800,000 to $899,999 range also saw a notable increase of 94.2%.




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