Much remains unchanged in the Big Island’s overall real estate market for September 2023, with tighter market conditions continuing to prevail. Year-over-year, median prices for both single-family homes and condos remained flat, with properties taking slightly longer to sell. A lack of new inventory for sale will continue to favor sellers.

Brief Overview:
Island of Hawaii Unit Sales Stats for September 2023 VS. September 2022

TOTAL SALES
Single Family Homes – Total sales of 154 single family homes marks a decrease of 22% units in comparison to September 2022.
Condos – 54 total sold – up 17% from 2022 numbers.
Land – 166 total sales of land offerings representing a decrease of 3% when compared against 2022 sales for September.

NEW LISTINGS
Single Family Homes – 159 new for September 2023. Down 34%.
Condominiums – 32 new for September 2023. Down 42%.

Single Family Homes Specific Stats:
Median Sales Price:
$534,000 in September 2023. A decrease of 1% over median prices from September 2022.
Days on Market:
33 days on market for September 2023 – a 29% increase from September 2022.

Condominium Specific Stats:
Median Sales Price:
$593k in September 2023.
Days on Market:
13 days on median days on market in September 2023. An increase change of 14% .

Vacant Land Specific Stats:
Median Sales Price:
$50,000 representing an increase of 27% in median price over September 2022.
Days on Market:
44 Days on Market for land sold in September 2023.  An increase for days on market of only 1%.

Written by Rick Oliver on October 10, 2023
Posted in: Blog, Real Estate |