November Facts and Figures in the Real Estate Marketplace

November Facts and Figures in the Real Estate Marketplace

  • Karen E. Bail
  • 12/17/21

Aloha friends! The latest market statistics for November of 2021 have just been released, and today Karen will take you on a virtual tour around the numbers to give you a better understanding as to what’s been happening in the Big Island’s red-host real estate marketplace as of late.

According to Redfin, Hawai’i County home prices grew by almost 11% from this same time last year, checking in at a median sales price of $535,000 for single-family homes on the island. Overall, homes were only on the market for a median of 68 days, as opposed to 119 days per the median last year. Additionally, condos came in at a median sales price of $480k for the month of November, besting last year’s tally by 22%. 

For some wider perspective, according to Fidelity National Title of Hawai’i, there has been a grand total of over $3.9 billion in sales (in total dollar volume) for single-family homes through November, a whopping 85% increase over 2020 at the same juncture! 

Having said that, things really get really interesting when we examine the total sales numbers for select areas of Hawai’i for single-family homes: the tallies for North Kona and South Kohala account for over 68% of the total sales figures for all of the Big Island!

  • North Kona: $1.7 billion, 101% increase from 2020
  • South Kohala: $1.01 billion, 81% increase 
  • TOTAL: $2.71 billion

Furthermore, here are the median sales prices for some specific neighborhoods here on the island of Hawai’i: 

  • North Hilo: $620,000, 71% increase from 2020
  • North Kohala: $850,000, 8% increase
  • South Kohala: $825,000, 24% increase
  • North Kona: $925,000, 20% increase
  • South Kona: $675,000, 21% increase

The same holds true for condo sales this year as well:

  • Total of $817 million in sales thus far in 2021 (a 92% increase over 2020’s figures), of which 97% are accounted for in the North Kona and South Kohala regions
  • South Kohala condo median sales price: $780,000, 27% increase

It really goes to show that, while the median sales price is again typically far more reflective of the market than the average, the median itself can still leave much to be desired when it comes to Big Island real estate—because if you’re looking to find your dream home for $400-500k in many of our most-exclusive neighborhoods, then you’ll probably be waiting for quite some time!

So if you’re looking to make the Big Island your new home—or looking to sell your home for maximum returns—Karen Bail of the Corcoran Group is ready to help. A real estate professional for over 40 years, she brings the knowledge and the expertise to turn your island dreams into a reality. Until next time: aloha, mahalo, and a hui hou. 

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Karen provides the most current and accurate market information, tapping into her vast network of industry professionals. She continually draws from her extensive marketing experience to offer creative marketing strategies and produce impeccably high-quality marketing materials.