Hawaii Island Real Estate Market Update: November 2020

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October was another busy month for the real estate market on Big Island. The number of sales increased slightly in October, increasing from 246 in September to 279 in October for single family homes. The majority of the home sales were in Puna, North Kona, and South Hilo. Puna represented almost half of all single family home sales last month. This represents an overall increase of 28% for single family home sales when compared to this time last year.For condos, the number of sales also increased in October when compared to September. There were 81 condos sold last month, compared to 64 in September and 78 units in October of last year.

For single family homes, there was a slight decrease in the median sales price last month. However compared to this time last year, single family homes have increased 17% overall. For condos, the median sales price has increased by 23% when compared to this time last year. The district with the highest median sales price last month was North Kona last month with a median sales price of $869,000. This represents an increase of 32% when compared with this time last year. Southern districts also experienced large price increases last month. The median sales price in Puna was $284,000, which is an increase of 29% when compared with October 2019 and Kau saw a 20% increase in prices with a median sales price of $245,000 last month.

Listings remained on the market longer in October than they did in September for condos and land, while the average days on the market for single family homes decreased last month to 67 days. North Kona homes spent the least amount of time on the market at 47 days.