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“Gretchen was a pleasure to work with. She was responsive and thorough with all the necessary paperwork. Our home purchase was a smooth process. Thank you!” Robert & Serena
Read more of this great testimonial on my website!
West Hawaii Real Estate Update
July, 2013: Volume 10, Issue 7
June was one for the record books! We surpassed 100 for the first time in 7 years, closing with 113 houses, condos, and land sales. With 529 sales year-to-date (up 17%) we are on track to close over 1,000 properties in 2013… way up from 881 in 2012.
Houses led the way with 61… a far cry from January 2009 when we had only 7 closings. With 109 pending sales, July should be a good month as well.
Condos had a solid month with 37 sales but this market has moved dramatically in price point in recent months. Watch for a transition from investors and second home buyers to ones who have been priced out of the housing market. Pending sales are strong here as well with 90, one of the highest numbers we have seen in ages.
Buyers… interest rates are rising rapidly and prices are up 13% since January for residential under a million. Don’t wait, email or call today to get your piece of paradise!
Notes From Gretchen
We did it again! Every year since Hawaiian Isle started we have made the Pacific Business News’s list for Top 50 Real Estate offices in the state. We are honored to be ranked 45 out of the hundreds and hundreds of offices in the islands this year. Thank you to all of our loyal clients who refer us to their families and friends!
June was an amazing month for closings as we wrapped up sales from the winter selling season. Our little office closed 10 transactions for almost $4 million… wow!
Real estate is really taking off in Kona!
Kona House Sales 2nd Quarter 2013
There were only 5 houses for sale under $300,000, plus 16 from there to $400,000, not enough to satisfy the market. Watch for increased sales over that in the coming months.
Kohala is the little train that could this year… although its sales haven’t been spectacular like Kona’s, it has added a few to its overall totals each month culminating in the 2nd quarter being one of the best in years.
Although a touch shy of the half-way point of sales last year, inventories have continued to fall limiting some buyers’ options. Houses listed under $400,000 now only have a little over a month’s supply… wow! Second quarter saw 36 house sales under $400,000, and there were only 15 available at the beginning of July.
Condo inventory is a little better with a three months supply under the $400,000 range.
Pending sales are strong with 134 houses, condos, and land.
Out On The Town
Congrats to Paul Griggs… long time newsletter reader and monthly guessing game player who captured the coveted first place response in June! The Mauna Kea Hotel is the host of the annual Big Island Jazz Festival that we had so much fun at!
Today’s photo shows me and one of my newest agents working a monthly Kona event… lots people, lots of vendors… and lots of food and fun to be had! Name this event and win a Starbucks gift card… as usual, family and other Realtors aren’t eligible to win but always welcome to play… aloha!
Gretchen L. Lambeth
Hawaiian Isle Real Estate, LLC
Direct (808) 329-5667
WHAR Creative Advertising Award 2012
75-170 Hualalai Road, D-115