Here is an overview of the real estate market statistics for January 2024 by island:
Oahu Real Estate Market Statistics:
Single-Family Homes: There were 190 transactions in this market, and the average time a home was listed was 29 days. The median sales price was $1,010,000, little less than the average asking price of $1,300,000. This category had a total dollar volume of about $249.34 million.
Condos: In the condominium market, 294 properties were sold, with an average listing period of 30 days. The median sales price was $500,000. The average asking price was $602,100. Condo sales brought in a total of almost $174.18 million.
Land: Only 9 transactions totaled in land sales, but the median price was substantially higher at $1,420,000, resulting in a total dollar volume of $16.18 million.
This image shows a healthy Oahu real estate market, with single-family homes leading the way in terms of volume and median sales price, followed by land and condominiums.
Big Island Real Estate Market Statistics:
Single-Family Homes: There were 157 transactions, and the average time spent on the market was 52 days. The median sales price was significantly lower at $499,000. The average list price was set at $1,100,000. About $160.65 million was the overall dollar volume for single-family dwellings.
Condos: There were 32 sales in the condominium market, with an average of 48 days on the market. Condos had an average list price of $770,800, but a higher median sales price of $608,500 was seen. This category had a total dollar volume of about $24.33 million.
Land: With 141 transactions, there were more sales of land. With a median sales price of $45,500, land had a relatively low dollar volume of $27.76 million when compared to the other categories.
In contrast to single-family homes, which have fewer sales, condominiums have a higher median sales price, suggesting a broad real estate market with a considerable amount of land transactions at lower values. In terms of dollar volume, the single-family house market seems to be the biggest.
Kauai Real Estate Market Statistics:
Single-Family Homes: A total of 29 sales occurred, with an average of 67 days spent on the market. With a median sales price of $1,430,000, the average asking price was a significant $2,600,000. $72,323,710 was the total dollar volume for single-family dwellings.
Condos: There were 16 sales of condominiums in the market, with an average of 40 days on the market. Condos had an average list price of $1,500,000, and a median sales price of $992,500, which was almost a million dollars. Condos had a total dollar volume of $23,324,900.
Land: The total dollar volume of $10,136,855 was generated by 9 land sales at a median price of $1,046,855.
According to this statistics, single-family homes on Kauai appear to be priced higher than other property types and have longer days on the market. While land sales were rare but had high median prices, condominiums sold more quickly and in smaller quantities.
Maui Real Estate Market Statistics:
Single-Family properties: An average of 116 days were spent on the market before 56 properties were sold. The median sales price was somewhat lower at $1,322,691 than the average asking price of $1,600,000. About $87.8 million was the overall dollar volume for single-family dwellings.
Condos: The average days on market for condominiums was 138, despite having 92 sales. $1,200,000 was the average list price, and $795,000 was the median sales price. Condo sales reached a total monetary volume of approximately $108.85 million.
Land: A total of $78.41 million in dollars were exchanged for 25 sales of land, with a high median price of $1,700,000.
This suggests that Maui’s real estate market is active and has substantial sales volumes in every category. Despite being on the market for a longer period of time, condominiums brought in the most money, with single-family homes coming in second and land coming in third with fewer sales but higher median values.
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