Big Island properties are demonstrating remarkable stability as we enter 2024. With total sales, median prices, and new listings maintaining consistent levels, this is an excellent time for both buyers and sellers to engage in the vibrant real estate landscape of Hawai’i.
Big Island Properties Overview
As of early 2024, the median sales price for a single-family home in West Hawai’i is around $1,050,000, while condos are priced at approximately $673,000. This region is particularly appealing to those seeking luxury properties with stunning ocean views and access to upscale amenities. West Hawai’i boasts vibrant communities, making it a prime location for discerning buyers looking for both comfort and lifestyle.
On the other hand, East Hawai’i offers a more affordable option for prospective homeowners. Here, the median sales price for single-family homes drops to $365,000, and condos are available for just $195,000. Hilo, the largest city on the East side, has residential properties averaging closer to $500,000. This pricing variation highlights the diversity of Big Island properties, catering to a range of budgets and preferences.
The Importance of Local Expertise
Navigating Big Island properties requires a nuanced understanding of the unique neighborhoods and characteristics. Each area has its advantages, from the coastal allure of Kailua-Kona to the tranquil surroundings of Hilo. Understanding these nuances is essential for making informed real estate decisions.
Partnering with a local real estate expert can provide invaluable insights into market trends, property values, and community features. An experienced agent can help buyers identify opportunities that align with their goals, whether they’re searching for their dream home or aiming to sell a property at the best price.
Timing Your Investment for Big Island Properties
As we move into 2024, the stability of Big Island properties market signals a favorable environment for transactions. For buyers, this means more opportunities to find a suitable home without the pressure of rapidly increasing prices. For sellers, the steady demand indicates that listing your property now can yield positive results.
With Big Island properties maintaining their equilibrium, now is the time to explore the possibilities that await you on this beautiful island. Contact Marco by clicking here to begin your exploration of Hawai’i Island real estate. Let’s discover the property that aligns with your vision for island living.
Curious about your property value?
Whether you’re looking to sell in the short or long term, having a strong understanding of what your property is worth in the current market can help you make the right decision for your future. Click here to receive a free property valuation.
Download the full January 2024 market report here.