Locations Lead Real Estate Research Analyst John Jacobson and Locations Partner and Realtor® Cory Takata discuss the real estate market in 2022. Last year the market was hot with competitive. Now that we are halfway through the year they offer insight into the current market and the change of activities for buyers and sellers.

There are more signs of easing in the Oahu real estate market this summer, on the heels of last year’s supercharged market. Changes in homebuyer sentiment and decreased open house traffic that began to emerge last spring are now showing up as slowing sales. However, even as the market moderates, competitive conditions are still present due to persistently low housing supply and strong buyer demand.

There are some signs of moderation in the Oahu real estate market in June 2022 after an unusually strong year in 2021. The pace of sales is slowing for single-family homes and flattening for condos, and although prices are still rising, the rate of increase is lessening.

Even as the single-family home median price hit a new high in May 2022, there are some signs that the market is beginning to moderate, including four consecutive months of falling sales and a slight increase in inventory for single-family homes. Competition is still stiff; however, with low Days on Market and high bid-ups.