September Market Update with Video
When comparing the first 9 months of 2020 and 2021 one has to consider that 2020 was a lockdown year and 2021 has seen explosive market conditions. A Better comparison is probably to the 2019 real estate market but for simplicity sake, here are some “fun facts” comparing September of 2020 vs. 2021 year to date. Watch the full video for more interesting stats!
- The market for Big Island condominiums continues to be strong with prices up island wide from a sales price average of $410,000.00 in September 2020 to $488,750 currently.
- Average Single Family home prices have escalated from $370k to $499,500 as inventory has lower priced inventory have been absorbed and possibly newer and more expensive homes have become the only options at higher prices.
- The number of land transactions also increased island wide, from 175 to 224 in September 2021.
- There were 107 condominium transactions in September 2021 vs. 29 in 2020 probably due to travel restrictions to the island.
- The volume of single family home sales escalated from 133 units in 2020 to 257 in September 2021.
- Average days on market for all classes of Real Estate have been cut to 38 from 83.
- Average days on market for land has dropped to 95 days from 169.
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