Ono Island Real Estate Market Analysis: Last 30 Days (As of May 5, 2025)

By Meredith Amon. Licensed in Alabama and Florida

The Ono Island real estate market has remained dynamic and stable over the past 30 days, with a mix of active listings, pending sales, and closed transactions. Here’s an in-depth look at the market segments, absorption rates, and trends in the past month.

Market Overview:

Active Listings:

Total Active Listings: 58
Price Range: From $550,000 to $7.9 million
Average List Price: $2.06 million
Median List Price: $1.82 million
Average Days on Market (DOM): 141

Pending Listings:

Total Pending Listings: 10
Average Price: $1.1 million
Median Price: $874,500
Average DOM for Pending Listings: 81

Closed Listings:

Total Closed Listings: 4
Total Sales Volume: $5.56 million
Average Sale Price: $1.39 million
Median Sale Price: $1.01 million
Average DOM for Closed Listings: 108

Absorption Rate Analysis by Price Range

1. Price Range: $550,000 - $799,999

Active Listings: 5
Pending Listings: 6
Sold Listings: 1
Absorption Rate: Strong. This segment is seeing high buyer interest, with more properties pending than actively listed. It reflects quick absorption, especially for properties priced near the lower end of the market.
Average DOM: 108 days for sold listings.

2. Price Range: $800,000 - $1,499,999

Active Listings: 19
Pending Listings: 4
Sold Listings: 1
Absorption Rate: Moderate. Homes in this range are being absorbed steadily, but not as quickly as homes priced below $800K. While there are a few pending listings, the overall absorption rate is slower.
Average DOM: 144 days for active listings; 108 days for sold listings.

3. Price Range: $1,500,000 - $2,999,999

Active Listings: 25
Pending Listings: 4
Sold Listings: 1
Absorption Rate: Moderate. Luxury properties are selling, but at a slower pace. The higher-end market is showing fewer pending properties and longer DOM compared to lower price segments. Buyers in this range are more selective.
Average DOM: 153 days for active listings; 119 days for sold listings.

4. Price Range: $3,000,000 - $5,999,999

Active Listings: 8
Pending Listings: 0
Sold Listings: 2
Absorption Rate: Slower. The high-end market continues to experience slower absorption rates, though two homes were successfully closed during this period. Homes in this price range require more time to find the right buyer.
Average DOM: 173 days for active listings; 130 days for sold listings.

5. Price Range: $6,000,000 and Above

Active Listings: 3
Pending Listings: 0
Sold Listings: 0
Absorption Rate: Very Slow. The ultra-luxury market on Ono Island is seeing very few transactions, with no homes closed in this price range over the past 30 days. The absence of pending listings indicates an even slower pace in this segment.
Average DOM: 250 days for active listings.

Market Trends & Insights:

High Buyer Interest for Affordable Homes
Homes in the $550,000 - $799,999 range are experiencing strong absorption, with homes being sold quickly and more properties pending than actively listed. This price range is currently the most competitive on Ono Island.
Luxury Homes Still Move, But Slower
For homes priced $1.5 million to $2.99 million, the absorption rate is moderate. There is buyer interest, but the homes tend to stay on the market for longer periods compared to the lower price ranges.
Slower Sales in Ultra-Luxury Market
Homes priced $3 million and above are seeing slower sales cycles, with only a few homes in this segment closing in the past 30 days. The ultra-luxury segment remains a niche market, and high-net-worth buyers are taking longer to make decisions.
Pending Listings
Pending sales have remained strong in the $595,000 to $1,139,000 range, with pending listings showing interest across various property types. This reflects continued demand for homes with boat access and waterfront views.

Predictions for the Next 30 Days:

Continued Demand for Lower-Priced Homes
The $550,000 - $799,999 price range will likely continue to see quick absorption. Buyers seeking entry-level homes or vacation properties will maintain strong demand, especially as we enter peak summer months.
Steady Sales for Mid-Range Homes
Homes priced $800,000 - $1.5 million will continue to sell at a moderate pace. Sellers may need to adjust prices or offer incentives for quicker sales in this price range.
Luxury Market Slows, But Remains Resilient
Luxury homes priced over $3 million will continue to see slower absorption. Sellers in this segment may need to be patient, as these homes appeal to a more selective group of buyers.

Conclusion & Recommendations

It is important to remain aware of the trends in both the luxury and mid-range markets. If you’re looking to list homes priced above $2 million, be prepared for extended DOM and consider price adjustments or incentives to appeal to high-end buyers. For homes in the $600K to $1.5 million range, maintaining competitive pricing will help maintain steady interest and quicker sales cycles.