To receive our monthly newsletter, please Click Here to enter your mailing address.
View our Archived Articles Here
David & Danielle
Read more great testimonials on my website!
West Hawaii Real Estate Update
February, 2015: Volume 12, Issue 2
Kona is off to a great start in 2015! We closed 91 properties in January, the first January in eons to do so and the second highest closing since April of last year.
The 40 condo sales really pushed it over the top and the 15 land sales helped as well. House sales were at 36 up from last January’s 28. Most likely this is our winter visitors snapping up properties when they arrive.
Cash sales are still running at 51% of all transactions which is a key indicator that we are still a good buy to those looking at where to put their money. Great news for the non-cash buyers since that should give them confidence that this is a strong market and desirable to those that can afford to pay cash.
There are only 8 houses for sale in Kona under $400,000, if you widen the search to $500,000 you get an additional 26 options. The lowest priced house is $319,000 and is a duplex of sorts. Sure not much to chose from!
Notes From Gretchen
Town has been crowded this winter so without even checking the stats I know we are having a good year… yay Kona!Sales prices are not the only thing going up in Kona, rental rates are as well. With more and more people moving to the island and our very finite rental inventory, prices are being pushed up in dramatic fashion. Condo increases are typically a $100 a month and houses are nearing $200 when they renew annually.
So if you were considering renting the property you own, now might be a good time!
23-Year History of Kona Residential Pricing Trend
This easy-to-read graph says it all, prices are on their way up still in Kona and are predicted to hit their previous year’s highs.
Featured Vacation Rental
Ocean front beauty!
Check it out on VRBO.
Want to discuss the benefits of turning your Kona home or condo into a vacation rental?
Owners sometimes don’t think about what could potentially go wrong with their place in Hawaii. They figure they are buying a condo or home and you just shut off the water and lock it up when you leave… wrong!
In a condo you have neighbors to the side and above you who could inadvertently damage your unit and not even know it. Or your home could spring a leak in a water line or valve. You would only find out when you return next year. To avoid this issue, hire an oversight manager like us to check the property on a regular basis to stop any issues before they get out of hand!
Hawaiian Isle Real Estate, LLC
#1 in Kona Transactions – 2013