|
Aloha from Chiaki Yamada with KW-Big Island. Have you spotted some whales in the waters off Hawai`i lately? If not, do a little whale watching from the shore or on an ocean tour before Hawai`i’s biggest annual visitors depart.
In the Real Estate market, March was a lot busier compared to the last 2 months. March has been the best month so far in 2025 with the inventory increasing by 5% from last month and Buying activities improved. Prices remain high despite the changing market; we are seeing many price reductions and price negotiations. Properties which are in good condition and move-in ready are selling a lot faster and for a higher price. Other properties, which might need some work, are slower to make it to escrow due to renovation costs; prices on materials and labor are hard to project, prices may change from week to week, and it is not easy to find a contractor to take on small projects.
For Kona's Residential Market, statistically the median price is still high and continues to rise, however, in some neighborhoods we have started to see some price drops. Since last month, the inventory increased by 4%, as well as Pending Ration (Escrow/Active Listings) by 3%. Buying activities for properties between $1M and $2M improved due to the snow-bird buyer. For properties sold in the last 30 days, the average number of days to open escrow was 53 days.
Here is the information on the Kona Residential Market (Active Listings, Under Contract, Pending Ratio and Market Insight) as of 3/25/2025. Overall, the Market is "Neutral."
|
