Hawaii Island Real Estate Market Update: September 2024 Market Overview
In September, single-family home sales dropped from 177 in August to 147, an 11% decrease compared to last year.
Number Of Sales
In September, single-family home sales dropped from 177 in August to 147, an 11% decrease compared to last year, with most sales in Puna (69), North Kona (29), and South Hilo (24). Condo sales fell significantly from 43 in August to 27, marking a 51% decline from last September. North Kona saw 11 condos sold in September, down from 24 the previous month and 30 last year. Land sales also decreased from 129 in August to 114 in September, with 79 sales in Puna, reflecting a 34% decline compared to last year.
Average Days On Market
In September, the average days on the market for single-family homes decreased to 47 days, down from 60 days last month and 62 days last year. In North Kona, homes averaged 52 days on the market, compared to 55 days last year. Condo listings remained steady at 44 days, unchanged from August but up from 36 days last year. Land listings increased to an average of 103 days, up from 84 days last month and 95 days last year.
Median Sales Price
In September, the median sales price for single-family homes on Hawaii Island rose from $550,000 in August to $555,000. In North Kona, it increased by 10% year-over-year to $1,380,000 from $1,250,000. For condos, the median price in September was $719,000, up from $550,000 in August. South Kohala condos had the highest median price at $1,200,000, while North Kona’s median dipped to $543,900 from $675,000 in August and $620,000 a year ago. Land prices fell to a median of $52,750 in September from $60,000 in August, but showed a 4.7% increase compared to the previous year’s $50,375.
Contact your REALTOR for more specific information regarding sales in certain neighborhoods or parts of Hawaii Island!