Sales of Single-Family Homes Rise on Big Island
There’s good news for Big Island residents in the market to sell their homes. Your home is probably worth more this year than last and more homes are selling this year.
Hawai‘i Island Realtors reports a 10% increase in single-family home sales and 5% increase in median prices on the Big Island in May 2019 compared to May 2018.
However, condominium sales and prices have both declined this year.
In May 2018, there were 207 single-family homes sold on the Big Island. This year there were 227—a 9.66% increase.
Also, in May of last year, the median single-family home price was $400,000. There was a 4.75% increase this year with the median price increasing to $419,000.
Right now is a buyers market for those looking for condominiums. Unfortunately for condominium owners, though, while the median price last year was $382,500, this year it declined by 1.96% to $375,000.
Also, the number of condominium sales seems to be in decline. The Big Island saw 80 units sold in May 2018, while this May there were only 78.