Property sales rose in March, showing strong momentum as we head into spring. Single-family homes reached new highs, with a blended median sales price of $635,000. Regionally, West Hawaii led the way with a median of $1,260,000, while East Hawaii came in at $455,000. While the condo market has faced challenges in recent months, it’s beginning to show signs of recovery, especially in complexes with limited inventory. In complexes where inventory remains high, patient sellers may benefit from waiting, as current conditions could lead to longer days on the market and lower sale prices.

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

TOTAL SALES
Single Family Homes – Total sales of 179 single family homes marks an increase of 17% in comparison to March 2024.
Condos – 51 total sold – down 12% from 2024 sales.
Land – 158 total sales of land offerings representing a decrease of 11% when compared against 2024 sales for March.

NEW LISTINGS
Single Family Homes – 224 new listings for March 2025. Up 35% from previous year.
Condominiums – 68 new condo listing for March 2024. Down 6% from March 2024.

Single Family Homes Specific Stats:
Median Sales Price:
$635,000 in March 2025. An increase of 7% over median prices from March 2024.
Days on Market:
35 days on market for March 2025 – an increase of 9% from March 2024.

Condominium Specific Stats:
Median Sales Price:
$644k in March 2024. Median prices down by 4% from March 2024.
Days on Market:
68 median days on market in March 2025.  Up by 491% from previous year.

Vacant Land Specific Stats:
Median Sales Price:
$47,000 representing a 11% increase in median price over March 2024.
Days on Market:
44 Days on Market for land sold in March 2025.  A decrease for days on market of 20%.

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