Market Watch: Ono Island New Construction Report

The Ono Island real estate market for new construction homes has shown a dynamic range of activity throughout the year. The following analysis includes data on homes that are currently active, pending, and closed, providing insights for property owners considering entering the market.

Active Listings:
- Average Listing Price: $2,013,100
- Average Price per Square Foot: $563.56
- Average Living Area: 3,005 sq. ft.
- Days on Market (Average): 188 days

Pending Sales:
- Average Pending Price: $1,471,500
- Average Price per Square Foot: $456.90
- Average Living Area: 3,149 sq. ft.
- Days on Market (Average): 152 days

Closed Sales:
- Average Sales Price: $1,230,701
- Average Price per Square Foot: $317.98
- Average Living Area: 3,933 sq. ft.
- Days on Market (Average): 33 days

Key Takeaways

1. Rising Demand
The strong number of pending and closed sales indicate a healthy demand for new construction on Ono Island.

2. Price Per Square Foot
New construction homes that are waterfront with boating amenities, as well as those built with superior quality of construction, are commanding significantly higher prices per square foot.

3. Luxury Market Opportunities
With an average asking price surpassing $2 million, the luxury market on Ono Island continues to show remarkable strength. The highest current listing, at $5.3 million, highlights the premium properties in this exclusive community. If these properties achieve sales close to their asking prices, it will further validate the resilience and desirability of Ono Island’s high-end market.

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We are here to guide you through the Ono Island market with confidence. Whether you’re considering selling or simply exploring your options, our team is happy to offer expert advice and tailored support to help you make informed decisions in this exclusive community.

Disclaimer: Information is deemed reliable but not guaranteed. All data obtained from the MLS. We make no representations on behalf of buyers or sellers.