The Big Island real estate market carries its momentum into the new year, with sales activity holding steady, median prices rising, and days on the market decreasing for both single-family homes and condos. For sellers, well-presented and correctly priced properties continue to sell quickly. Buyers, meanwhile, are benefiting from increased inventory and stronger negotiating power. A closer look at the condo market reveals a shift, with median prices rising in North Kona to $690K, South Kohala to $748K, and Hilo to $213K-reversing a recent softening trend. While it’s still too early to call a bottom for the condo market, signs suggest that condos may be heating up again.

Brief Overview:
Island of Hawaii Unit Sales Stats for January 2025 VS. January 2024

TOTAL SALES
Single Family Homes – Total sales of 173 single family homes marks an increase of 12% in comparison to January 2024.
Condos – 38 total sold – up 19% from 2024 numbers.
Land – 128 total sales of land offerings representing a decrease of 6% when compared against 2024 sales for January.

NEW LISTINGS
Single Family Homes – 249 new listings for January 2025. Down 11% from previous year.
Condominiums – 74 new condo listing for January 2024. Down 12% from January 2024.

Single Family Homes Specific Stats:
Median Sales Price:
$600,000 in January 2025. An increase of 20% over median prices from January 2024.
Days on Market:
32 days on market for January 2025 – an increase of 8% from January 2024.

Condominium Specific Stats:
Median Sales Price:
$690k in January 2024. Median prices up by 13% from January 2024.
Days on Market:
74 median days on market in January 2025.  Up by 79% from previous year.

Vacant Land Specific Stats:
Median Sales Price:
$45,000 representing a decrease of 5% in median price over January 2024.
Days on Market:
46 Days on Market for land sold in January 2025.  An increase for days on market of 25%.

Written by Rick Oliver on February 7, 2025
Posted in: Blog, Real Estate |