Kona Market Update - November 2024
The Kona market in November 2024 shows contrasting dynamics between single-family homes and condominiums. Single-family homes are experiencing a balanced inventory increase yet maintain a 3-month supply, keeping it within seller's market conditions. Condos, however, face an oversupply with an 8.1-month supply, indicating a clear buyer’s market, potentially driven by policy and economic uncertainties surrounding Hawaii’s condo insurance landscape and high mortgage rates.
Both markets reveal stable days on the market, reflecting that properties continue to sell steadily when priced right despite some demand softening. Moving forward, inventory trends and election outcomes may further influence market activity.
Resort Market Update
