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Aloha from Chiaki Yamada with KW-Big Island. May your Thanksgiving abound with reasons to be grateful.
In keeping with a recognized trend in the U.S. real estate market in an election year, following this year’s election the Real Estate Market has picked up. Suddenly, we have had more properties going under contract in just the last two weeks.
This is good timing as our real estate high season starts in December and usually ends at the end of March. During these months there will be more people on the island and buying activities usually increase. If you are thinking of selling your home or doing an exchange of properties, please do not miss this high season opportunity! If you are Buyer looking for the right property, there should be more nice homes coming on market during winter.
For Kona's Residential Market, due to relatively limited inventory, the market is maintaining its median price. The market has improved for all the properties under $3M. Properties priced under $1.2M, with ocean views, are still selling quickly, even with multiple offers. Even if there are no multiple offers on the table, the average sold price in the last 30 days is 95% of the listing price.
Here is the information on the Kona Residential Market (Active Listings, Under Contract, Pending Ratio and Market Insight) as of 11/25/2024. Compared to last month, the inventory increased 7% and buying activities heightened as the Pending Ratio (Escrow/Active Listings) increased by 20%. Overall, the Residential Market is still "Neutral.
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