Statewide Hawaii Real Estate Market Report - May 2015

For the state of Hawaii as a whole, the number of sales are up 19% for single-family homes and are up 8% for condos when compared to last month. The numbers show that median single-family home prices are down 5% when compared to last month and up 5% when compared to April 2014. Median condo prices are down 3% when compared to March, and up 5% from a year ago.

Statewide, it took a median of 35 days to sell a single-family home and 30 days to sell a condo.

When compared to March 2015, the number of single-family home sales is up. Maui is up 2%, the Big Island is up 21% and Oahu is up 26% and Kauai remains unchanged. When compared to April last year, Maui is up 2% , Kauai is down 13%, The Big Island is down 3%, while Oahu is up 23%.  

Of all the islands in January, Oahu has the highest price for single-family homes at $672,450 while Maui has the highest price for condos at $405,000. The Big Island has the lowest prices for single-family homes and condos at $378,950 and $260,000 respectively.

Single-Family Home Prices

$378,950 - Big Island

$564,250 - Kauai

$578,000 - Maui

$672,450 - Oahu

Condo Prices

$260,000 - Big Island

$347,000 - Oahu

$370,000 - Kauai 

$405,000 - Maui

The Big Island's single-family homes showed the largest increase in median pricing when compared to last month at 15%, while Kauai condos showed the largest increase at 35%. 

When compared to last month, the number of condo sales are down 23% on Kauai,and 11% on Maui while the Big Island is up 39% and Oahu is up 11% on Oahu. When compared to March last year, Oahu is the up 3%, Big Island is up 22%, while Maui is down 25% and Kauai is down 27%.

When we compare median single-family home prices to a year ago, Oahu is up 4%  the Big Island is up 20%, Kauai is up 7% while Maui is down 3%. When we compare condo prices to April last year, Oahu is up 7%, Kauai is down 2%, Maui is down 25% and the Big Island is up 22%.

These statistics reflect the entire state of Hawaii as a whole as well as the individual islands, but real estate is local, and each island, region and neighborhood has its own market trends. Contact a Locations agent today for even more hyperlocal real estate market information.

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