Leeward Home Values Saw Greatest Percent Increase Over Past Five Years

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Leeward Home Values Saw Greatest Percent Increase Over Past Five Years

Single-family home and condo values in Leeward Oahu increased by 60 percent or more since 2012

HONOLULU – (October 18, 2017) – Locations – Hawaii’s leading real estate firm – released its mid-month Oahu Residential Real Estate Report for September 2017. The report, which analyzes sales activity for more than 350 Oahu neighborhoods, found that median prices increased in all market areas since 2012, for both single-family homes and condos. Single-family homes in Leeward Oahu and Ewa, and Leeward and Ala Moana – Kakaako condos, saw the greatest percent gains.

Locations presents the following highlights of the Oahu real estate market:

• Single-family median home prices have increased in all market areas since 2012. Median home prices in the Waialae-Kahala market had the greatest increase by dollar amount at $342,500 (24 percent), followed by Kailua at $330,500 (42 percent).

• In terms of percent gain for single-family median prices, Leeward Oahu saw the greatest gains, at 61 percent. Leeward single-family home values increased by $170,944 since 2012.

• Leeward median condo prices increased by 72 percent, for a gain of $64,944. Ala Moana-Kakaako median condo prices increased by 61 percent, for a gain of $211,250.

“Homeowners across Oahu have seen significant increase in home equity in the last five years,” says Scott Higashi, President and CEO of Locations. “While home equity is on the rise island-wide, homeowners in Leeward Oahu have seen their home values rise substantially over the past five years. With an average gain in home equity of more than $170,000, now is a good time for Leeward homeowners to make their move up the real estate ladder or upgrade their current home while interest rates are still at near-historic lows.”

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