The number of single-family homes sold in August increased from the number of homes sold in July, increasing from 155 to 185.
In comparison to the previous month, there has been a significant increase in residential sales volume and dollar volume. The median price has remained the same, and the average DOM has decreased slightly. The final list price to sold price ratio has decreased slightly as well.
Condo sales have also seen an increase in both units sold and dollar volume compared to the previous month. The median price remained the same, and the average DOM decreased. The final list price-to-sold price ratio has improved.
Land sales have shown a decrease in both units sold and dollar volume compared to the previous month. The median price has decreased, and the average DOM has increased. The final list price-to-sold price ratio has remained relatively stable.
In summary, the residential and condo markets on Hawaii Island have experienced an increase in sales activity and dollar volume, while the land market has seen a decrease in sales activity and median price. The overall market appears to be fairly active, with varying trends across different property types and districts.
Be sure to reach out to a LUVA agent for more information and context on the current market conditions for Big Island real estate sales!