Hawaii Island Residential Property Market Trends Report: February 2025 Edition
Quick Facts
Hawaii Island Residential Property Market Trends Report: February 2025 Edition
Hawaii Island Real Estate Market Update: February 2025
As we welcome the new year, the Hawaii Island real estate market continues to exhibit a mix of trends. In this blog article, we’ll delve into the latest market update for February 2025, highlighting the fluctuations in single-family home sales, condo sales, and land sales. Additionally, we’ll explore the average days on market, median sales price, and key observations from each district.
Single-Family Home Sales: A Mixed Bag
While single-family home sales saw a slight decline from January’s numbers, falling from 169 to 138, the February numbers still showed an impressive 18% increase compared to last year. This fluctuation might indicate a temporary slowdown, but the overall momentum remains strong.
District Insights
When it comes to district-specific sales, Puna took the lead with 56 sales, followed by North Kona with 29, and South Kohala with 17. It’s interesting to note that despite the slight decline, single-family home sales are still outperforming the previous year.
Condo Sales: A Rise to the Occasion
Condo sales, on the other hand, experienced a significant increase, rising from 39 in January to 45 in February. This represents a 4.6% year-over-year rise. North Kona took the top spot with 27 condo sales, up from 25 in the previous month. This trend suggests that condos are still in high demand, particularly in the North Kona area.
Land Sales: A Nine Percent Decrease
Land sales saw a slight decline, dropping from 134 in January to 157 in February. Although this marks a 9% decrease compared to last year, it’s essential to note that the overall market is still experiencing growth.
Average Days on Market: Insights
Median days on market offer valuable insights into the market’s velocity. For single-family homes, February saw an average of 77 days on the market, up from 62 days in January and 60 days last year. In North Kona, the average was 75 days, a notable increase from 47 days last year. Condos, on the other hand, averaged 57 days on the market, down from 86 days in January but up from 36 days last year. Land listings averaged 89 days, a decrease from 98 days in January but matching the average from February last year.
Median Sales Price: A Mixed Landscape
The median sales price for single-family homes dropped to $574,250 in February from $595,000 in January. However, North Kona’s median price rose to $1,475,000, up 7.6% from last year. Condos saw a median price increase to $750,000, up from $680,000 in January, while South Kohala condos reached $1,228,000. North Kona condos rose to $790,000 from $665,000 in January and $622,500 a year ago. The median land price decreased to $43,000 from $43,500 in January, down 4.4% compared to $45,000 last February.
Key Takeaways
As we reflect on the February 2025 Hawaii Island real estate market update, a few key takeaways emerge:
- Single-family home sales saw a slight decline, but still experienced a significant year-over-year rise.
- Condo sales continued to rise, with North Kona leading the pack.
- Land sales saw a decline, but the overall market is still experiencing growth.
- Average days on market and median sales price varied across districts, offering valuable insights into the market’s velocity.
- The median sales price for single-family homes dropped, while North Kona’s median price rose significantly.
For more specific information regarding sales in certain neighborhoods or parts of Hawaii Island, don’t hesitate to reach out to your trusted REALTOR. With access to the latest market data and expert insights, you’ll be better equipped to navigate the ever-changing real estate landscape.
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