Oahu Market Update (June 2021)

 

—— Market Summary ——

The median sales price of single-family homes hit a new record of $979,000! Closed sales of single-family homes rose 49.3%, and condo sales skyrocketed 134.0%. The trend of properties selling over the asking price persists, with 57.7% of single-family homes and 32.9% of condos closing above the original asking price. "Bidding wars" are occurring predominantly in mid-range price points (between $600,000 and $999,999) for single-family home properties. View the Full Market Report Did you know? The median sales price for Maui hit a new record high at $1,117,500! Also, the median sales price for Kauai was $1,1M in June.

—— Neighborhood Spotlight ——

—— Highest Sales in June ——

$8,100,000  148 Kaimoani Way Unit A, Kailua HI 96734       6 BA | 6/1 BA | 8,579 Sq. Ft. Living    See the Full Listing

$6,325,000 4714 Kahala Ave, Honolulu 96816 6 BA | 6/2 BA |  8,247 Sq. Ft. Living See the Full Listing

—— Did you know? —— Rents nationwide have now rebounded fully from pandemic-driven declines. Median rent was 8.4 percent higher than in June of last year. Top 10 cities with the fastest-growing rents since March 2020. Boise, Idaho: +39% Spokane, Wash.: +31% Fresno, Calif.: +21% Glendale, Ariz.: +20% Virginia Beach, Va.: +20% Gilbert, Ariz.: +19% Reno, Nev.: +19% Mesa, Ariz.: +19% Henderson, Nev.: +19% Chandler, Ariz.: +18%                                                              (Source: Inman)

—— Thought of the month —— I hope your July is full of great adventures!

—— Luxury Properties ——

—— Around the World: Dubai —— 

Interesting Facts:

• Average price per sq. ft.: $250
• Avg. Sales Price: $300,000
• Property investors in Dubai are eligible for UAE residency visas and there is no property tax on residential properties in Dubai.

Read the full Article

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