Big Island real estate sales this year have outstripped last year’s sales figures as the final quarter of 2017 begins. According to Multiple Listing Service, or MLS, sales statistics, 4,114 property sales have been made on the Big Island in 2017 to date, a 6.5 percent increase from last year’s numbers. Of these sales, 1,865 of them were residential sales, 633 of which were made in the third quarter of the year.
The west side and other parts of the state are prone to high prices and limited inventory. The cost over there is prohibitive for average buyers. While median home sale prices in Puna increased from $200,000 to $233,000 in the third quarter, they are still far less than the $660,000 and $544,500 medians in North and South Kona, respectively.
North Kohala remains the most expensive district, despite the median home sale price decreasing from $785,000 to $700,000. Home sales in North Kohala remain steady, however.
Real Estate experts say the boom on the East Side of The Big Island is going to last for the next two years, while Kona trends are usually a year behind, so three years for the West Side is predicted.