Kailua Kona Real Estate Market Update – December 2024
As 2024 concludes, the Kailua Kona real estate market presents a dynamic mix of opportunities and challenges for buyers and sellers alike. Here’s a closer look at the trends shaping the single-family home and condominium markets:
Kona Condos: Rising Prices Despite Challenges
The condominium market continues to surprise. Active listings climbed to 159 in December, reaching levels last seen in 2020, while pending sales lagged at just 50% of that demand. Despite these conditions, median prices rose 17.12% YoY to $650,000, signaling continued buyer interest amid growing competition.
With months supply surging to 7.1—placing the market in buyer’s territory—and active-to-pending ratios reaching over 5:1, sellers face tougher conditions. Buyers, however, need to navigate the challenges posed by ongoing insurance crises and elevated AOAO fees, which could impact affordability and potentially shift the market in 2025.
Kona Single Family Homes: Steady and Stable
In contrast, the single-family home market remains more balanced. Median prices rose 7.26% YoY to $1,255,000 but softened slightly since Q3 2024. Inventory levels matched those of January 2021, but pending sales are only 50% of that time, keeping the active-to-pending ratio at a manageable 2:1.
Months supply held steady at 3.3 months, reflecting relative stability. Homes continue to sell briskly, with a median of just 22 days on the market. For both buyers and sellers, the single-family home market offers a stable environment with fewer surprises.
What’s Next?
As we move into 2025, the Kailua Kona market is poised for potential shifts:
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For condos, the balance could tip further into buyer’s territory if supply continues to grow and affordability challenges linger.
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Single-family homes may maintain their steady course, offering a consistent option for investors and homebuyers alike.
Whether you're considering buying, selling, or simply exploring your options, Kailua Kona remains a vibrant and dynamic market with opportunities on both sides. Contact us today to chart your course in paradise!
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