The Big Island real estate market maintained its current sales pace in May. However, an increase in single-family home sales at lower price points, combined with a slowdown in sales above one million dollars, pulled median prices down. Unexpectedly, the condo market set a new record for median sales prices, reaching $837,500, driven by a wave of luxury sales in Mauna Kea, Mauna Lani, and Keauhou. Overall, buyers continue to have the upper hand, but sellers with well-priced and well-presented properties are still going into escrow quickly.
