In September 2023, the Hawaii Island real estate market exhibited diverse trends across its residential, condo, and land sectors.
In the residential market, East Hawaii showed a decrease in the number of sales and median sales price when compared to last month. The West Hawaii residential sales market reflected similar changes as the number of sales and median sales price decreased as well.
Condo sales increased by 12% when compared to this time last year. North Kona led the condo market with 30 units sold, with a median price of $620,000. Condo sales in East Hawaii and West Hawaii showed increases in average days on the market and median sales price when compared to the previous month of August.
Turning to land sales, the island experienced an overall increase in the median sales price, while the days on the market and the number sold decreased during September. Across the island, land sales recorded a total of 169 units sold, with a median price of $54,000.
In summary, the Hawaii Island real estate market in September 2023 displayed a mixed landscape, characterized by robust residential sales, dynamic condo market activity, and varied trends in land transactions. Reach out to your agent to further understand the current state of real estate on the island.