The average sale price for a single-family home on the Big Island of Hawaii was $876,227 in November 2024.
This figure represents the average price of homes sold during that specific month, offering a snapshot of the current real estate market trends on the Big Island. It's important to note that home prices can fluctuate based on various factors, including location, property size, condition, and market demand.
Big Island Single-Family Home Market Snapshot (November 2024)
Understanding the average price is just one part of the picture. Here's a brief overview of key market indicators for single-family homes on the Big Island during November 2024, compared to the previous month:
| Market Indicator | This Month (November 2024) | Last Month (October 2024) |
|---|---|---|
| Average Sale Price | $876,227 | $749,649 |
| Median Sale Price | $550,000 | $545,000 |
| Homes Sold | 132 | 155 |
| Median Days on Market | 39 | 32 |
Understanding Average vs. Median Prices
- Average Sale Price: This is calculated by summing the prices of all homes sold and dividing by the total number of homes. It can be significantly influenced by a few very high-priced or very low-priced sales.
- Median Sale Price: This is the middle price point, meaning half of the homes sold for more and half sold for less. The median price is often considered a more accurate representation of typical home prices, as it is less affected by extreme highs or lows. For November 2024, the median sale price for single-family homes on the Big Island was $550,000.
The difference between the average and median sale prices highlights the diverse range of property values found across the Big Island, from more affordable options to luxury estates.
