Oʻahu Home Prices Hit All-Time High

The real estate market is ever-changing. Happily, Kapolei Realtor Sam Paltikian RS-79996, at Coldwell Banker Pacific Properties: (RBO-16781), is here to explain what it all means for west side homeowners. He can be reached at Sam.Paltikian@cbpacific.com or 808.265.1450.

Sam Paltikian

September 2020 real estate statistics showed Oʻahu hitting a new record for median pricing of single family houses!

So what’s driving this market?

Low Inventory: Single-family new listings on Oʻahu down 40% in 2020 vs 2019! On an island of nearly 1 million people, there were only 2,458 homes (houses + condos) available for sale as of 10/29/20, not including those in escrow.

Home Loan Interest Rates: VA loan rates 2.25% to 2.75%, Conventional 2.5% to 3.2%. The exact rate depends on a person’s financial situation, but overall, these are the lowest rates in 50 years.

Low interest rates = More buyers. Low inventory + More buyers = Multiple 0ffers. Homes are attracting as many as 25 legitimate offers, and this is driving prices up.


ʻEwa Plain Stats

Here is a quick snapshot for the market conditions, single family & condos combined:

Active (10/28/20) Sold (Sept. 2020)
Kapolei 49 118
ʻEwa Beach 27 210

ewa plain september 2020 real estate

makakilo september 2020 real estate

If you want to learn more about market conditions for 2020, please contact me for a one-on-one discussion. Email Sam.Paltikian@cbpacific.com, or call my mobile line: 808.265.1450