The Big Island real estate market maintained its current sales pace in May. However, an increase in single-family home sales at lower price points, combined with a slowdown in sales above one million dollars, pulled median prices down. Unexpectedly, the condo market set a new record for median sales prices, reaching $837,500, driven by a wave of luxury sales in Mauna Kea, Mauna Lani, and Keauhou. Overall, buyers continue to have the upper hand, but sellers with well-priced and well-presented properties are still going into escrow quickly.

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

TOTAL SALES
Single Family Homes – Total sales of 170 single family homes marks a decrease of 7% in comparison to May 2024.
Condos – 46 total sold – down 39% from 2024 sales.
Land – 144 total sales of land offerings representing a decrease of 20% when compared against 2024 sales for May.

NEW LISTINGS
Single Family Homes – 196 new listings for May 2025. Down 3% from previous year.
Condominiums – 49 new condo listings for May 2024. Up 20% from May 2024.

Single Family Homes Specific Stats:
Median Sales Price:
$545,000 in May 2025. A decrease of 1% over median prices from May 2024.
Days on Market:
30 days on market for May 2025 – a decrease of 18% from May 2024.

Condominium Specific Stats:
Median Sales Price:
$838k in May 2024. Median prices up by 23% from May 2024.
Days on Market:
48 median days on market in May 2025.  Down by 15% from previous year.

Vacant Land Specific Stats:
Median Sales Price:
$60,000 representing a 38% increase in median price over May 2024.
Days on Market:
24 Days on Market for land sold in May 2025.  A decrease for days on market of 20%.

Written by Rick Oliver on June 9, 2025
Posted in: Blog, Real Estate |