Hawai‘i Island Real Estate Market Report, Q4 2022

Hawai‘i Island Real Estate Market Report, Q4 2022

Presented by Agent Name, REALTOR(S)  |  (808) 123-4567

Q4 2022 Sees Striking Rise in Inventory of Homes: As Prices Inch Down, Market Still Favors Sellers 

Hawai‘i Island Market Statistics Overview

Inventory

There are currently 648 active residential listings on Hawai‘i Island, an increase of +73.7% comparing Q4 2021 to Q4 2022. As upward shift in inventory continues, number of single-family homes available for sale climbs. 

There were 512 sales on the Big Island in Q4 2022, a decrease of -34.6% over 783 sales in Q4 2021.

Homes under contract were 473, a decrease of -36.7% over the same period in 2021, in which 747 homes were under contract. 

Median Sold Price

For the fourth quarter of 2022, the median sold price of single-family homes on the Big Island of Hawai’i was $495K, a decrease of -1% from the median sold price of $500K during Q4 2021.
Hawai’i Island is seeing a subtle drop in the price of single-family homes.

Average Price Per Square Foot

Since Median Sold Price and Average Sold Price can be impacted by the mix of high or low end properties on the market, the Average Sold Price per Square Foot is a more normalized indicator of the direction of property values. 

For Hawai’i Island, the Average Sold Price per Square Foot has shown a drop over the last 12 months, with the year over year price decreasing to $460/foot in Q4 2022, a change of -4.6% compared to $482/foot in Q4 2021.  

Days on Market

The average Days on Market (DOM) shows how many days the average property is on the market before it sells. While some of the previous 12 months have been outliers, the overall trendline shows that Days on Market is increasing notably. Q4 2022 reported an average number of days on the market as 59 DOM, an increase of +40.5% compared to 42 DOM in Q4 2021. 

Months of Inventory

Current months of inventory available is 3.76 months, an increase of +140.4% comparing Q4 2022 to 1.56 months in Q4 2021. 
The real estate market on Hawai’i Island continues to see a striking increase in months of inventory.

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$900,000  |  1,234 sqft Living  |  1.23 acres  |  3BR / 3.5BA  |  MLS# 123456

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Sources & Disclaimers: Residential data compiled from Trendgraphix.com as of 1/9/23, based on public MLS sales, listing, pending, inventory, days on market, etc. data. In the event that sales were not yet recorded, or errors or omissions in the public data not yet corrected may impact the accuracy of these statistics. 

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