The Big Island real estate market is following national and statewide trends as sales activity decreased 25% year over year with only a slight increase from August (243) to August (257). Other key indicators including median sales prices remained relatively flat as both buyers and sellers continue to let the macro economic market conditions play out. Brief Overview: Island of Hawaii Unit Sales Stats for August 2022 VS. August 2021 TOTAL SALES Single Family Homes – Total sales of 200 single family homes. Down 25% compared to August 2021. Condos – Down 37% in sales. 57 total sold. Land – 193 total sales of land offerings representing a decrease of 29% when compared against 2021 sales for August NEW LISTINGS Single Family Homes – 214 units with a 29% decrease over previous 2021 period. Condos – Down 46% for new listings. 43 units in 2022 Single Family Homes Specific Stats: Median Sales Price: $484,000 in August 2022 a slight decrease of 2% over median prices from August 2021. Days on Market: 22 days on mar...

Filed under: Blog, Newsletter, Real Estate by Rick Oliver
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Buyers are regaining control on the Big Island as median sales prices continued their decline from recent highs while days on market increases. Since July 1st, of the 678 combined single-family homes and condos listed for sale, 21.6% have seen a price reduction. Properties that are priced accordingly and present well are continuing to sell quickly. Brief Overview: Island of Hawaii Unit Sales Stats for July 2022 VS. July 2021 TOTAL SALES Single Family Homes – Down 31% in sales - totaling 180 units. July 2021 saw 261 sales. Condos – Down 23% in sales. 63 total closed. Land – 211 total sales of land offerings representing a decrease of 27% when compared against 2021 sales for July. NEW LISTINGS Single Family Homes – Down 7% with 238 units. Condos – Down 15% for new listings. 60 units in 2022 Land – Down 17%. 256 vs. 310 for 2021. Single Family Homes Specific Stats: Median Sales Price: $456,000 in July 2022 an increase of 7% over median prices from July 2021. Days on Market: 19 days on market for July 20...

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View the 2nd quarter Market Summary for 2022 ↓ Click Here ↓

Filed under: Real Estate by Rick Oliver
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Overall market activity on the Big Island is showing signs of slowing as total sales declined -12% for single-family homes and -22% for condos year over year. Even though sales are down, prices remain near recent highs as competitively priced properties continue to sell quickly. Given the Big Island's vast size and geographic diversity, it is important to review data specific to each market area as median sales prices range from $300K to over $1 million. Brief Overview: Island of Hawaii Unit Sales Stats for June 2022 VS. June 2021 TOTAL SALES Single Family Homes – Down 12% in sales - totaling 246 units. Condos – Down 22% in sales. 83 total closed. Low Inventory levels, higher borrowing costs and elevated list prices are all factors. Land – 224 total sales of land offerings representing an increase of 30 units (+12%) when compared against 2021 sales for June. Land continues to offer value where buyers will build a home eventually at a lower combined cost than buying an improved lot with house. NEW LISTINGS Single Fa...

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Year to date, the Big Island real estate market has remained very consistent with little fluctuation in total sales, median sales price and days on market. Island-wide, the median sales price for condos ($567K) surpassed single-family homes ($523K) in May 2022, with a 26% increase in price compared to this time last year, and with 13% fewer total sales (94) for the month. Given its vast size, it's important to consider the neighborhood level nuances whether you plan to buy or sell here. Brief Overview: Island of Hawaii Unit Sales Stats for May 2022 VS. May 2021 Single Family Homes – Down only 1% in total sales - totaling 256 units. Condos – Down 42% in sales. 94 total closed. Land – 287 total sales of land representing an increase of 30 units (+12%) when compared against 2021 sales for that month. Single Family Homes Specific Stats: Median Sales Price: $523,000 in May 2022 an increase of 5% over median prices from May 2021.. Days on Market: 12 days on market for May 2022. Down 79% from May 2021 which saw 57...

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I was recently recognized as one of the Hawaii Business Magazine’s Top 100 REALTORS in the State for 2021. I was also one of the Top Worldwide producers for Coldwell Banker where I earned and was awarded the International Award of Excellence placing me in the top 100 Brokers worldwide out of over 14,000 agents for the company. The Hawaii Business Magazine award confirms my production and that it was tops among the thousands of REALTORS in the State. 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 2021, 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, interperso...

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The Big Island real estate market held steady as median sales prices increased 9% year over year for single-family homes ($517,000} and 45% for condos ($689,900}. Across the island, a lack of available properties for sale continues to fuel buyers' demand as properties continue to sell as quickly as they come on the market. Brief Overview: Island of Hawaii Unit Sales Stats for April 2022 VS. April 2021 Single Family Homes – Down 17% in total sales - totaling 238 units. Condos – Down 42% in sales. 87 total closed. Land – Only 261 total sales of land representing a decrease of 25% when compared against 2021 sales. Single Family Homes Specific Stats: Median Sales Price: $517,000 in April 2022 an increase of 8% over median prices from April 2021.. Days on Market: 40 days on market for April 2022. Down 17% from previous year. Condominium Specific Stats: Median Sales Price: $690k in April 2022. An increase year over year of 42% from 2021. Days on Market: 17 days on average in April 2022. A change of min...

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The Big Island continues to face inventory challenges as indicated by several key metrics. With a lack of properties for sale, total sales were down -10% for single-family homes (SFH) and -40% for condos compared to the same time last year. While sales may have dropped, median sales prices continue to ascend higher as SFH increased 26% to $517,500 and condos increased 30.3% to $650,000. Across the island properties are selling in just under 10 days! Brief Overview: Island of Hawaii Unit Sales Stats for March 2022 VS. March 2021 Single Family Homes – Down 12% in total sales - totaling 283 units. Market remains supply restricted. Condos – Down 40% in sales. 83 total closed. Market is supply restricted. Again, no surprise. Land – Increased to 318 total  representing an increase of 5%. This shows positive unit growth in 2022 versus 2021. Single Family Homes Specific Stats: Median Sales Price: $515,000 in March 2022 an increase of 25% over median prices from March 2021. Days on Market: 31 days on market for M...

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Aloha, Friends, Family, and Clients, The year 2021 was an incredible year for all real estate sales professionals Nationwide, and in my case, it was record-breaking with your support, encouragement, and aloha. I earned the Coldwell Banker International Society of Excellence Award for 2021. This award is presented to individual sales associates/representatives who produce a minimum of $1,000,000 in Closed Adjusted Gross Commission Income or 160 Total Unit sales placing them in the top 1% of 94,300 agents among 3,000 offices in 3 countries and territories. I was fortunate to have listing inventory when the flood gates opened in January, so the sales results followed. I also had buyers waiting for inventory and worked hard to find the few opportunities for purchases of their new homes on the Big Island. I call it the “now or never” sales boom where the “lookers” became buyers in 2021, with that trend continuing into 2022 even though prices in the sub $1m price range have doubled in some communities. For example, the Lehua p...

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Two months into the year and the Big Island real estate market continues its competitive streak. Even with interest rates creeping up which puts pressure on affordability, properties are selling as fast as they come on the market. For both single-family homes and condos, there were more sales than new listings driving months of remaining inventory towards record lows. Here is a brief overview: Island of Hawaii Unit Sales Stats for February 2022 VS. February 2021 Single Family Homes - Down 5% in sales. Total of 225 units. Market is supply restricted, so not a surprise. Condos - Down 50% in sales.  84 total closed. Market is supply restricted. Again, no surprise. Land - Increased to 207 total closed. Market is less supplied restricted and shows this with positive unit growth in 2022 versus 2021. Single Family Homes Specific Stats: Median Sales Price: $515,000 in February 2022 a modest decrease of 2% over median prices from February 2021. Days on Market: 14 days on market for February 2022. Condominium Speci...

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