Reaching My Price Point

Oahu home prices have dropped closer to my price point (sarcasm):

The median sale price of previously owned single-family homes on Oahu has fallen below the $1 million mark that was first eclipsed in August 2021 and consistently met or exceeded until January.

January’s median price was $970,000, down 8% from $1,050,000 in the same month in 2022, according to Honolulu Board of Realtors data released Monday.

Everything's relative. The prices in my Bay Area neighborhood are north of $1.5 million, so if we sell our house and pay the income taxes (and in our case there still will be some after the $500,000 Section 121 exclusion), we'll have enough to pay cash for a home on Oahu.

If we want to downsize, as well as add to the nest egg, we could buy a condo:

The number of condo sales in January sank 50% to 275 from 552 in the same month a year earlier. A string of falling year-over-year sale volume began in June with a 14% decline that grew in size over the second half of 2022 to around 40% in November and December.

Condos sold for a median $495,000 in January. That was down 3% from $510,000 a year earlier. The record was $534,000 in June.

Malasadas and plate lunches can be expensive.