Big Island single-family home sales have dropped to their lowest levels since May 2020, with days on market reaching a high of 49 days during the same period. Condos, on the other hand, are experiencing a slight rebound from recent lows, with sales trending upward and faster days on market. Notably, combined condo sales set a new record for median sales price in February, reaching $790,000, driven by luxury complexes such as Hale Hinahina at Kohanaiki and Waiulaula at Mauna Kea. Amid recent economic headwinds affecting everyday consumers, much of the Big Island real estate market is taking a wait-and-see approach. 

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

TOTAL SALES
Single Family Homes – Total sales of 135 single family homes marks a decrease of 21% in comparison to February 2024.
Condos – 43 total sold – unchanged from 2024 sales.
Land – 153 total sales of land offerings representing a decrease of 12% when compared against 2024 sales for February.

NEW LISTINGS
Single Family Homes – 198 new listings for February 2025. Up 21% from previous year.
Condominiums – 71 new condo listing for February 2024. Up 16% from February 2024.

Single Family Homes Specific Stats:
Median Sales Price:
$610,000 in February 2025. An increase of 21% over median prices from February 2024.
Days on Market:
49 days on market for February 2025 – an increase of 81% from February 2024.

Condominium Specific Stats:
Median Sales Price:
$790k in February 2024. Median prices up by 13% from February 2024.
Days on Market:
71 median days on market in February 2025. Up by 16% from previous year.

Vacant Land Specific Stats:
Median Sales Price:
$45,000 representing no change in median price over February 2024.
Days on Market:
35 Days on Market for land sold in February 2025.  A decrease for days on market of 37%.

Written by Rick Oliver on March 6, 2025
Posted in: Blog, Real Estate |