In our previous blogs, we’ve shared some of the year-end numbers to give you a better idea as to just how big the real estate boom was for the island over the past year:
- $4.3 billion in total sales (single-family homes, condos, land)—a 73% increase over the total dollar volume in sales for 2020 ($2.5 billion)
- A state RevPAR, or revenue available per room, of $199 in November of 2021—a 277% increase from November of 2020
- Many of our most-exclusive neighborhoods, such as North Kohala (8%), South Kohala (24%), and North Kona (19%) seeing major increases in median sales price for single-family homes
There’s no doubt about it—it’s been quite a ride thus far, and 2022 is continuing the trend! With the Big Island (and the rest of the Aloha State) doing record numbers over the past year-plus, it’s only natural to wonder what you home might fetch on the open market. But in such a fast-paced and frantic time, how is one to go about assessing the worth of their current home or condo accurately and quickly?
With the help of an experienced, dedicated realtor, of course!
We’ve made it easy for you to get the facts: head on over to our home valuation page to type in your property’s address to get started on your free evaluation today! With countless satisfied customers to her name, Karen Bail has been at the vanguard of Big Island real estate for decades. If you’re looking to fetch your own record-setting numbers by selling your home, then give her a call or send her an email and let’s get started on turning all those Big Island dreams into a reality today.
News and notes from around the island
Curious to read more about the year that was in real estate—and looking to get a handle on what might be in store over the coming months? Check out some of these recent articles from around the web while you’re at it!
- Hawai’i’s Ultra High-End Homes: $1.1 billion in 2021 sales—A national report says Hawai’i is the ninth-largest market for $10 million-and-plus homes (Hawai’i Business Magazine)
- Behind the Scenes of a Luxury Home Auction on the Big Island of Hawai’i—Forbes Magazine takes a look at the concierge auction process for a recent home sale on the island of Hawai’i (Forbes)
- Hawaii Luxury Real Estate Market ‘Phenomenal’ in 2021, Report Says—A recent report by the Corcoran Group touts record-breaking year in sales, forecasts 2022’s spring market to see more properties entering the marketplace (Pacific Business News)
- Already High Home Prices May Go Higher When Foreign Buyers Return—Purchases by mainland buyers were strong during the pandemic, and sales to Japanese and Canadians are slowly rebounding after a dramatic fall (Hawaii Business Magazine)