Hilo Real Estate Market Trends and Insights Zillow Cannot Match in 2024
Hilo Real Estate Zillow
234 Waianuenue Ave Suite 219
Quick Facts
• Hilo’s median home value is around $640,000, as of data available.
• The median list price per square foot is approximately $530.
• Median sale price is around $625,000.
• As of data available, there are about 170 homes for sale in Hilo.
• Average home in Hilo is around 1,445 square feet.
• Hilo has around 93% of residents owning a home.
• Median property taxes range from 0.2% to 0.4% of the property value.
• 71% of homes in Hilo have 2-4 bedrooms.
• The median year homes in Hilo were built is 1975.
• Neighborhoods in Hilo have an average Walk Score of 62, indicating ‘Walkable’ communities.
New Listings & Properties for Sale in Hilo Real Estate Zillow
Hilo HI Real Estate & Homes For Sale
Hilo, HI Real Estate & Homes for Sale
Hilo HI Newest Real Estate Listings
Hilo, HI Single Family Homes for Sale
Hilo Real Estate Market Trends and Insights on Zillow
Located on the Big Island of Hawaii, Hilo is a charming town that offers a mix of natural beauty, rich history, and a growing real estate market. As the largest city on the island, Hilo serves as the county seat and a hub for commerce, education, and culture. For those looking to buy, sell, or invest in Hilo real estate, understanding the current market trends and insights is crucial. This article provides an in-depth analysis of the Hilo real estate market using data from Zillow, a leading online real estate marketplace.
Overview of Hilo Real Estate Market
The Hilo real estate market is diverse, with a range of properties available, from luxury homes to starter condos. According to Zillow, the median home value in Hilo is around $430,000, with a median list price per square foot of $340. The median rent in Hilo is $2,000 per month, which is relatively high compared to other parts of the country.
Hilo’s real estate market has been steadily growing over the past few years, driven by a combination of factors, including a strong local economy, growing tourism industry, and limited housing supply. However, the market has also experienced fluctuations in recent years, particularly during the COVID-19 pandemic.
Zillow’s Market Trends
Zillow’s market trends data provides valuable insights into the Hilo real estate market. Here are some key trends:
1. Appreciation: Hilo’s median home value has appreciated by over 10% in the past year, according to Zillow.
2. Median Sales Price: The median sales price in Hilo is around $420,000, which is higher than the national average.
3. Number of Listings: The number of listings in Hilo has been declining steadily over the past few years, which has contributed to a more competitive market.
4. Days on Market: Homes in Hilo are selling relatively quickly, with an average days on market of just over 30 days.
Neighborhoods to Watch
Hilo has several neighborhoods that are worth watching, each with its unique character and charm. Here are some of the top neighborhoods to consider:
1. Waiakea: Located near the heart of Hilo, Waiakea is a popular neighborhood that offers easy access to schools, shopping, and restaurants.
2. Kilauea: This historic neighborhood is known for its beautiful architecture, tree-lined streets, and stunning views of Hilo Bay.
3. Hilo Town: The downtown area of Hilo is experiencing a rebirth, with new businesses, restaurants, and shops opening up.
4. Keaukaha: This scenic neighborhood is located near the ocean and offers stunning views of the coastline.
Types of Properties
Hilo’s real estate market offers a range of properties to suit different budgets and lifestyles. Here are some of the most popular types of properties:
1. Single-family homes: These are the most popular type of property in Hilo, offering plenty of space for families and individuals.
2. Condominiums: Condos are a popular option for retirees, couples, and singles who want to be close to the action.
3. Townhouses: Townhouses offer a mix of space and convenience, with many located in the heart of Hilo.
4. Luxury homes: If you’re looking for a luxury property with stunning views and high-end amenities, Hilo has plenty to offer.
Tips for Buyers and Sellers
Whether you’re a buyer or seller, navigating the Hilo real estate market can be challenging. Here are some tips to keep in mind:
1. Research: Do your research and stay up to date with market trends, including prices, inventory, and sales pace.
2. Get pre-approved: If you’re a buyer, make sure you get pre-approved for a mortgage before starting your search.
3. Price competitively: If you’re a seller, price your property competitively to attract multiple offers.
4. Work with an agent: Consider working with an agent who has experience in the Hilo real estate market.
Conclusion
The Hilo real estate market is a fascinating and complex place, with a mix of natural beauty, rich history, and growing investments. By understanding the current market trends and insights, buyers and sellers can make informed decisions and navigate the market with confidence. Whether you’re looking for a luxury home or a starter condo, Hilo has something for everyone.
Photos of Hilo Real Estate Zillow
Frequently Asked Questions:
Hilo Real Estate FAQ
Q What is the median home value in Hilo
A The median home value in Hilo is around 550000 to 600000 US dollars depending on the location size and condition of the property
Q How fast are homes selling in Hilo
A The average days on market in Hilo can vary from 20 to 60 days or more depending on factors such as pricing location and condition of the property
Q Are there any new developments in Hilo
A Yes there are several new developments in Hilo ranging from single family homes to condominiums and townhouses offering a mix of modern amenities and traditional Hawaiian charm
Q What are the most popular neighborhoods in Hilo
A Some of the most popular neighborhoods in Hilo include downtown Hilo Waiakea Uka Puueo and Hilo Heights known for their historic homes beautiful views and central locations
Q Can I find affordable housing in Hilo
A While Hilo is considered a relatively expensive market there are still options for affordable housing including starter homes condominiums and townhouses in up and coming neighborhoods
Q Are there any fixer upper properties in Hilo
A Yes many homes in Hilo are older and may require renovation making them great opportunities for fixer upper projects with potential for significant returns
Q What is the average price per square foot in Hilo
A The average price per square foot in Hilo is around 400 to 600 dollars depending on factors such as location size and condition of the property
Q How does Hilo real estate compare to other Hawaiian islands
A Compared to other Hawaiian islands Hilo real estate is generally more affordable than Oahu and Maui but less affordable than the Big Island’s Kona side
Related Links & Information:
Hilo Homes for Sale
Zillow Research Hilo Data
Hilo Home Values
Hilo Homes for Sale by Agent
Hilo Climate and Geography
