Hawaii Island Real Estate Market Update: June 2024 Market Overview
In June 2024, the number of single-family homes sold on Hawaii Island decreased from 183 to 157 and was 23% lower than June of last year.
Most sales occurred in Puna (56 homes), North Kona (42 homes), and South Hilo (19 homes). The median sales price for these homes rose from $548,000 in May to $642,000 in June. North Kona’s median price was $1,112,500, an 8% decrease from June of last year.
Condo sales fell dramatically from 75 in May to 33 in June, a 58% decrease from June of last year when there were 80 sales. North Kona saw 18 condo sales in June, down from 44 in May and down from 38 in June of last year. The median sales price for condos decreased from $680,000 in May to $552,000 in June. North Kona had the highest median condo price at $592,000 which was down from $599,000 in May but up from $548,000 in June of last year.
Land sales decreased to 133 in June from 180 in May, with 93 sales in Puna, representing a 35% decrease from last year at this time. The median land sales price dropped to $40,000 in June from $42,750 in May, and $45,000 in June of last year.
The average days on market in June for single-family homes was 63 days, down from 77 days in May and 66 days last June. In North Kona, homes averaged 38 days on the market, compared to 55 days last year at this time. Condos stayed on the market for an average of 50 days, an increase from 38 days in May and 41 days last year at this time. Land listings averaged 69 days on the market in June, down from 114 days in May and 108 days last June.