Year-over-year sales for single-family homes plummeted 46.6%, while condo sales were down 39.3%. The median sales price for a single-family home dipped slightly to $1,049,500, while the median condo sales price rose to $502,500.
In the single-family home market, the $800,000 to $999,999 range saw a whopping 225% increase, with 143 listings available at the end of the year compared to just 44 listings in December 2021. In the condo market, active inventory most significantly increased primarily in the mid to upper price ranges. Year-over-year, active inventory in the $400,000 to $1,999,999 price range rose by 50%.
The percent of original list price received continued to dwindle, with single-family home sellers receiving a median of 96.7% of their asking price in December 2022, falling from 102.1% last year. In the condo market, the median percentage of the original list price received was 98.5% compared to 100.0% in December 2021.
Sotheby’s International Realty® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission. List International Realty, Inc. fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Sotheby’s International Realty Affiliates LLC nor any of its affiliated companies.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information obtained from HBR RETS. Information provided by seller/other sources, not verified by broker. All interested persons should independently verify accuracy of all information.
List Sotheby's International Realty - Hawaii Real Estate License RB-21353