Living on the Big Island may be your dream choice for retirement, but before you make this move, you need to examine the state of the Big Island real estate market. Working with an experienced Big Island realtor is a necessity to help you determine which option is the right one for your budget, your specific needs and the optimal real estate investment potential. The following statistics* can help guide you along the path to making the most effective choice.
Median Prices for Homes for Sale on the Big Island
For most people, owning their own home is a dream they don’t want to give up, especially if they’ve previously been homeowners. When it comes to homes for sale on the Big Island, single family houses are among the most expensive. In 2015, the median house price ranged from $585,000 in North Kohala to $567,500 for houses in North Kona. This is an increase in prices over 2014 statistics by 1.12 percent and 4.13 percent respectively.
Home Sales Continue to Rise for Big Island Real Estate
According to the latest statistic, sales of single family homes have increased this year over last on most of the west side of the Big Island. North Kona is up 2.66 percent; while South Kona is up a whopping 36.17 percent! The majority of single family home sales on the west side of the Big Island occurred in South Kona. South Kohala is also up a hefty 25.75 percent compared to 2014. The only area with a drop in the number of sales is North Kohala at -36 percent, but because of the limited inventory in that area, that’s the equivalent of only 18 homes less than last year.
Big Island Realtors Agree: Active Sales Inventory Is Down
Overall, Big Island home inventory is lower than the same time in 2014. There were 167 single family homes for sale last September compared to 139 in September 2015. That’s why it’s more important than ever to contact an experienced Big Island realtor who can identify the best homes as soon as they are available on the market.
While choosing a single family home on the Big Island, it’s important to work with an experienced Big Island realtor. They can help you navigate the real estate statistics so you understand which area would work best for your investment value and your unique needs, as well as your budget. Big Island real estate can be intimidating, especially if you are moving from an area with a lower cost of living. With the right help, you will be able to find your ideal home in paradise.
If you’re interested in living on the Big Island, contact us or call Annette at (808) 217-8500. It’s perfect timing to explore your single family home options. We would consider it an honor to help you relocate to one of the most stunning places on the planet.
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*Comparing Big Island Real Estate statistics from Jan. 1, 2014-Sept. 30, 2014 with Jan. 1, 2015-Sept. 30, 2015