• Cassie Valley, Big Island Realtor

January 2022 Big Island Market Update

Updated: Feb 5

Here we are again. Another month has gone within a blink of an eye. Real estate is still top of mind, and there are many prospective buyers out there waiting for more inventory to come on the market.

 

In Hamakua, there were six residential properties sold in January with a median home price of $612,500. In comparison with 2021, this is a 28% increase in price and a 40% reduction in inventory as in January 2021 there were 10 residential properties sold in Hamakua. As for listing price to the sales price, homes sold in Hamakua at 98% of list to the sale price. As for land, there were 4 parcels sold in Hamakua in January, and these parcels sold at 100% list to the sale price. The overall sales volume of Hamakua in January reached $4,455,000 and for land, it totaled $2,045,000.

 

In North Hilo, there were 2 residential properties sold this January, which is double the amount sold in January 2021. The median sales price was $727,000, and residential homes in North Hilo sold at 97% of the list price. There were three parcels of land sold in North Hilo in January, average a median price point of $490,000, which reflects a list to sold price ratio of 97% The overall sales volume of North Hilo in January reached $1,454,000, and for land $1,320,000

 

As for the busier market of South Kohala, there were 24 residential properties sold in January of this year at an average median price of $833,000, a 24% increase from the year prior. The overall sales volume was $40,431,225, a 60% increase from 2021. Homes sold at 97% of the listing price. The condo market stayed active as ever, with an average median price of $921,250, a 47% increase from 2021.

 

Lastly, in North Kona, another busier market, there were 46 residential homes sold in January averaging a median price of $1,070,000, a 30% increase from the year prior. Homes sold at 102% of the list to the sale price. Total sales volume for residential properties totaled $71,594,500, a 22% decrease from January 2021. The condo market in North Kona averaged a median price of $487,500, a 24% increase from 2021.

 

Obviously, the data shows still a very Seller's market and still very competitive for buyers where sales prices are meeting or exceeding the listed price. Fingers crossed for an increase in inventory in the upcoming months, in particular in the North Hilo and Hamakua regions.


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