Over the past 3 years, an average of 11 fee simple homes sold per year in Lanai. This moderate sample size provides a reasonable view of market trends, but some variability may exist.
The Lanai graphs use median data points instead of averages, as the median is less affected by extreme outliers and better reflects typical trends.
Lanai Homes Market Summary (June '24 - May '25 vs June '23 - May '24)
Median Sales Price: $680,000 vs $690,000 — down 1.45%
Number of Sales: 10 vs 11 — down 9.09%
List-to-Sale Price Ratio: 97.14% vs 98.57% — down 1.45%
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We exclude Leasehold data from this market analysis because Leasehold properties do not compare with regular Fee Simple properties.
We use median instead of the average because it depicts more accurately a central tendency to the sample size. Example: Take 5 numbers - 3, 5, 7, 9, 21. The median is 7 (the middle number) and the average is 9 (sum of all divided by 5).
We count days on market from listing date through closing date.
