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“It is no wonder that Gretchen has been ranked as one of the best Realtors in Kona and in the State of Hawaii. We found out firsthand how her full service business and personal attention to her clients can make the onerous task of buying a new home less stressful. And she continues to assist us long-range in questions we have and resources we need. Her services and attention to us as clients did not end with the closing of the house. Thank you for letting us be your clients!” The Padgetts
Read more great testimonials on my website!
West Hawaii Real Estate Update
April, 2015: Volume 12, Issue 4
This month Kona sales for the first quarter surpassed 2014, good news! However, as mentioned in other newsletters, there is a huge uptick in land sales helping us achieve this milestone.
To illustrate just how much impact this is having on existing home sales, let’s look at the $700,000 to $900,000 price range. This was hardest hit in Q1 since this is the range that buying a lot and building becomes very appealing to buyers. The average month’s supply of inventory jumped from 4.8 to 10.5 in the $700-799,999 range and for $800,000 to $899,999, it more than doubled to 6.8 months. Taking both ranges from a seller’s market to a buyer’s market almost overnight.
Even the $600,000 range got hit with enough increase in inventory to push it to 6.5 months’ supply, even though sales were higher than Q4 of 2014, a result of too many sellers entering the market at the same time.
Call or email me to discuss the market!
Notes From Gretchen
Right after last month’s column discussing how many new people are arriving on the island these days, West Hawaii Today did an article titled “More flew here than grew here in the past four years”… how appropriate!
Between 2010-2014, the island’s population grew 4% for a total of 194,190. That is 9,111 new residents with a birth/death increase of 3,723, international migration of 3,087, and domestic migration of 2,163.
We led the state in growth rate last year with a 1.5% increase from 2013-2014.
Kona Residential Sales Listed Under $1 Million
Overall sales are holding relatively steady, however, condo sales are outpacing houses because of substantial price increases the last few years in both.
Featured Vacation Rental
Peaceful Ocean View
Located away from the hustle and bustle, the Orchid Inn is perched on 1 1/2 acres of lushly landscaped grounds, facing the Pacific Ocean.
Find out more here.Want to discuss the benefits of turning your Kona home or condo into a vacation rental?
Email me to set up a time to discuss!
Water Rates are Rising!
A West Hawaii Today article in March outlined multiple year price increases for the water department. The proposal is before the Water Board to vote on in June and they will be effective in July. The meeting date is May 26th in Kona.
Shocking in its entirety, it is designed to take some of the sting out of it. A 3% increase for this year, a 4% increase for next year and then 5% for the three years after that. At the end of five years they will have raised the rates a combined… 22%!
This is on top of the rising surcharge for electric. Stay tuned to see what the water board decides!
Out on the Town
We had so much fun! We are on the top deck of the Body Glove boat headed for Kealakekua Bay in South Kona on the dinner cruise. Fabulous wait staff, historian and boat captain… and too top it off the drinks and food were great too!
Make sure to put this on your must see list for the next time you are in Kona. I’ve been here 25 years and have never done one of these types of outings and boy, have I been missing out!
Here is the link to book yours today!www.bodyglovehawaii.com/
Hawaiian Isle Real Estate, LLC