With the onset of Covid 19 our world was turned upside down. The immediate response was that markets would crash and real estate prices would drop dramatically. Realtors were getting calls from buyers looking for a fire sale. Well, the statistics below will show you that the opposite happened in the real estate market here on the Big Island and it continues to this day. As homeowners fled the crowded cities for wide-open spaces, they realized that they could work and that their children can go to school from home so why not work and go to school in paradise? Current resale inventory is extremely low here in the Islands and builders are struggling to build homes as quickly as possible. Needless to say, if you have an interest in listing your home on the Kona Coast, The Hawaii Team is here to serve you. The statistics below were drawn from Hawaii Information Services MLS searches comparing the 1st quarter of 2021 to the 1st quarter of 2020.
2021, $500,000.00 to $1,000,000.00
- 261 Sold properties
- Avg sale price: $695,447.00
- Avg $/sq ft: $464.00
- Sale price/current price: 98.9%
- Avg days on market: 50
2020, $500,000.00 to $1,000,000.00
- 194 Sold properties
- Avg sale price: $675,708.00
- Avg $/sq ft: 410.00
- Sale price/current price: 96.0%
- Avg days on market: 128
2021, $1,000,000.00 to $3,000,000.00
- 147 Sold properties
- Avg sale price: $1,615,643.00
- Avg $/sq ft: $746.00
- Sale price/current price: 96.7%
- Avg days on market: 112
2020, $1,000,000.00 to $3,000,000.00
- 72 Sold properties
- Avg sale price: $1,453,995.00
- Avg $/sq ft: $653.00
- Sale price/current price: 96.0%
- Avg days on market: 128
2021, $3,000,000.00 to $10,000,000.00
- 38 Sold properties
- Avg sale price: $4,835,461.00
- Avg $/sq ft: $1,500.00
- Sale price/current price: 96.8%
- Avg days on market: 133
2020, $3,000,000.00 to $10,000,000.00
- 17 Sold properties
- Avg sale price: 4,638,529.00
- Avg $/sq ft: $1,411.00
- Sale price/current price: 93.7%
- Avg days on market: 198
2021, $10,000,000.00 plus
- 9 Sold properties
- Avg sale price: $16,198,000.00
- Avg $/sq ft: $2,647.00
- Sale price/current price: 99.9%
- Avg days on market: 57
2020, $10,000,000.00 plus
- 2 Sold properties
- Avg sale price: $9,600,000.00
- Avg $/sq ft: $3,141.00
- Sale price/current price: 69%
- Avg days on market: 204
