Slower market conditions persisted in November, with days on market increasing for both single-family homes and condos. Other key market indicators remained steady and consistent with previous months. The median sales price of a single-family home along West Hawaii Island was $1,110,000, while East Hawaii Island reached a new high of $467,500. Serious buyers remain active, presenting opportunities for well-prepared sellers. Those selling or considering selling should remain patient, as extended days on market have allowed buyers to price compare properties while regaining some negotiating leverage, fostering a balanced market environment. Brief Overview: Island of Hawaii Unit Sales Stats for November 2024 VS. November 2023 TOTAL SALES Single Family Homes – Total sales of 153 single family homes marks an increase of 19% in comparison to November 2023. Condos – 45 total sold - up 61% from 2023 numbers. Land – 124 total sales of land offerings representing an increase of 2% when compared against 2023 sales for Novembe...

Filed under: Blog, Real Estate by Rick Oliver
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The Big Island real estate market appears to be in a 'wait-and-see' mode as it relates to the November election. October's sales activity showed slight signs of increase, while median prices softened alongside longer days on market. To succeed in this market, sellers must be mindful of their pricing strategy, while buyers can afford to be more aggressive, especially with properties that have been on the market longer. Cash buyers are still present, though they are few and far between. Finally, don't get caught sleeping on Big Island real estate-as snowbirds start their migration back and with the possibility of improved economic conditions, this stalemate could loosen up quickly. Brief Overview: Island of Hawaii Unit Sales Stats for October 2024 VS. October 2023 TOTAL SALES Single Family Homes – Total sales of 166 single family homes marks decline of 2% in comparison to October 2023. Condos – 41 total sold - down 11% from 2023 numbers. Land – 160 total sales of land offerings representing an increase of 1% when com...

Filed under: Blog, Real Estate by Rick Oliver
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Much like in previous years, September was one of the slowest months for real estate sales. However, median prices ticked upward as buyer activity picked up across the island. Although it may feel like properties are taking longer to sell compared to recent memory, days on the market are actually trending downward, with properties selling within three weeks. Buyers should be ready to act, as early signs of lower mortgage interest rates have driven pending sales to recent highs, with 377 properties currently under contract. Brief Overview: Island of Hawaii Unit Sales Stats for September 2024 VS. September 2023 TOTAL SALES Single Family Homes – Total sales of 143 single family homes marks decline of 7% in comparison to September 2023. Condos – 27 total sold - down 50% from 2023 numbers. Land – 109 total sales of land offerings representing a decrease of 34% when compared against 2023 sales for September. NEW LISTINGS Single Family Homes – 176 new listings for September 2024. Down 19% from previous year. Cond...

Filed under: Blog, Real Estate by Rick Oliver
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The Big Island's real estate market remains relatively unchanged as summer comes to an end, with total sales and median prices staying within a narrow range for single-family homes. The median sales price for homes in West Hawaii Island was $1.1 million, compared to $428k in East Hawaii. On the other hand, the condo market continues to slow, with declining sales and prices. Condos are now taking three times longer to sell, with days on market increasing from 11 days in June to 35 days in August. Brief Overview: Island of Hawaii Unit Sales Stats for August 2024 VS. August 2023 TOTAL SALES Single Family Homes – Total sales of 172 single family homes marks decline of 6% in comparison to August 2023. Condos – 42 total sold - down 16% from 2023 numbers. Land – 123 total sales of land offerings representing a decrease of 31% when compared against 2023 sales for August. NEW LISTINGS Single Family Homes – 151 new listings for August 2024. Down 37% from previous year. Condominiums – 60 new condo listings for August...

Filed under: Blog, Real Estate by Rick Oliver
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The overall sentiment for the Big Island's real estate market remains neutral. Buyers continue to be active, although a bit more selective. Sellers are adjusting to a pre-Covid market where properties take longer to sell. Condos specifically are facing some challenges due to sharp increases in insurance and HOA dues. Keen observers of the real estate market will be carefully monitoring mortgage interest rates, which are forecasted to decline, and the impact they will have on the overall market. Brief Overview: Island of Hawaii Unit Sales Stats for July 2024 VS. July 2023 TOTAL SALES Single Family Homes – Total sales of 175 single family homes marks an increase of 16% in comparison to July 2023. Condos – 50 total sold - up 14% from 2023 numbers. Land – 153 total sales of land offerings representing an increase of 6% when compared against 2023 sales for July. NEW LISTINGS Single Family Homes – 201 new listings for July 2024. Up 11% from previous year. Condominiums – 70 new condo listings for July 2024. Up 52...

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A slowdown in sales activity couldn't stop the Big Island real estate market from setting a record high, with median sales prices reaching $642,000 in June and 23% of properties sold above asking price. Unexpectedly, total sales for condos plummeted to 32 sales in June, down from 72 sales in June, a 56% decline. Looking ahead to the second half of 2024, expect some bumps in the overall housing market as consumer confidence wavers and a decision on rate cuts looms. Regardless of whether you plan to buy or sell, opportunities in the market continue to present themselves. Brief Overview: Island of Hawaii Unit Sales Stats for June 2024 VS. June 2023 TOTAL SALES Single Family Homes – Total sales of 155 single family homes marks a decrease of 22% in comparison to June 2023. Condos – 32 total sold - down 59% from 2023 numbers. Land – 125 total sales of land offerings representing a decrease of 35% when compared against 2023 sales for June. NEW LISTINGS Single Family Homes – 159 new listings for June 2024. Down 35% f...

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Thanks to my listing and buyer clients alike, 2023 was an incredible year for me regarding real estate sales. I very much appreciate all of your support, encouragement, and aloha. I earned the Coldwell Banker International Society of Excellence Award for 2023. I earned this award by producing net sales that placed me in the top 250 of 4500 Coldwell Banker brokers Worldwide. I’m flattered by the awards but as we all know in the sales business, the sales cycle never ends, and it’s more timing than any other factor that determines whether your sales close in a particular calendar year or not. In this case, it was perfect timing in 2023, where closings and opportunities met in the ideal sales “storm.” Many mahalo’s to my buyer and seller clients who blessed Lissette and myself with the opportunity to serve their needs. It makes us both happy when all parties are pleased with the financial aspects of the sales process as well as the positive, interactions we all share to close the sale. All of our sales production is a comb...

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Much remains unchanged for Big Island real estate in May, as total sales and median prices stayed in line with flat to slight increases from the start of the year. Some softening of demand is being experienced for single-family homes (SFH), as days on market increased by 10 days to a total of 37 days. Even with this increase, it remains a seller's market. Median prices for Single Family Homes in key markets are highlighted by Kona at $1.12M, Kohala at $1.33M, Hamakua at $975K, and Hilo at $510K. Brief Overview: Island of Hawaii Unit Sales Stats for May 2024 VS. May 2023  TOTAL SALES Single Family Homes – Total sales of 177 single family homes marks a decrease of 5% in comparison to May 2023. Condos – 72 total sold - up 29% from 2023 numbers. Land – 175 total sales of land offerings representing a decrease of 12% when compared against 2023 sales for May. NEW LISTINGS Single Family Homes – 178 new listings for May 2024. Down 32% from previous year.                                  Condominiu...

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The Big Island real estate market is heating up as summer approaches. For five consecutive months, there has been an increase in total sales, with buyers continuing to purchase properties in less than 30 days. Properties at the higher end of sales prices in neighborhoods are selling, but at a slower pace. Most notably, condos set a new record median sales price reaching $785,000 in April, driven higher by the 6 closings at Hale Hinahina in Kohanaiki, which had an average sales price of $4.8M and 29 total condos sold above $1 million. Brief Overview: Island of Hawaii Unit Sales Stats for April 2024 VS. April 2023 TOTAL SALES Single Family Homes – Total sales of 177 single family homes marks an increase of 11% in comparison to April 2023. Condos – 73 total sold - up 22% from 2023 numbers. Land – 158 total sales of land offerings representing a decrease of 4% when compared against 2023 sales for April. NEW LISTINGS Single Family Homes – 175 new listings for April 2024. Down 13% from previous year. Condominiums ...

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Market activity on the Big Island closed out the first quarter with continued upward trends in overall sales and prices for both single-family homes and condos across the island in March. Notably, there was an all-time record-high median sales price for residential properties, reaching $579,500, while condos reached their second-highest median price at $673,000. Condo sales for March nearly doubled since the start of the year, reflecting a 2% increase year-over-year, while single-family home sales remained relatively unchanged at 149, compared to both the beginning of the year and the same period last year. Brief Overview: Island of Hawaii Unit Sales Stats for March 2024 VS. March 2023 TOTAL SALES Single Family Homes – Total sales of 149 single family homes marks a decrease of 7% in comparison to March 2023. Condos – 58 total sold - up 2% from 2023 numbers. Land – 174 total sales of land offerings representing a decrease of 16% when compared against 2023 sales for March. NEW LISTINGS Single Family Homes – 143...

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