Big Island Real Estate Market Update: March 2024 Market Overview
Sales
In March, single-family home sales decreased from February, with the majority sold in Puna, North Kona, and South Hilo. Condo sales increased from February, with most sales in North Kona. Land sales rose from February, with a significant portion in Puna.
Days On Market
Single-family homes were on the market for 68 days (up from 60 days last month and 69 days last year).In North Kona, homes were on the market for 50 days (up from 41 days last year). Condos were on the market for 41 days (Up from 36 days last month and 32 days last year). Land listings were on the market for 136 days (up from 97 days last month and 99 days last year).
Median Sales Price
The median sales price for single-family homes on Hawaii Island rose to $587,250 in March 2024 from $502,000 in February. In North Kona, the median sales price was $1,475,000, a 15% increase from the previous year. Condo prices decreased to $672,500 in March from $685,000 in February. South Kohala had the highest condo prices at $1,040,000. Land prices decreased to $41,000 in March from $46,000 in February, a 13.5% decrease from the previous year. While trends can differ by neighborhood, we continue to see quick sales with multiple offers when a property is priced appropriately. Reach out to your Realtor for more information about the current market!