To receive our monthly newsletter, please Click Here to enter your mailing address.
View our Archived Articles Here
When it comes time to sell your property, there is no one with more expertise than Gretchen. We followed her advice about property improvements, pricing and inspection and our condo sold in 3 days. And that was in a crowded market! This is our first experience with her on the selling end of real estate and from start to finish, it was smooth sailing!!
Tom and Heather
Read more great testimonials on my website!
West Hawaii Real Estate Update
June, 2016: Volume 13, Issue 4
When looking for real estate trends it is often helpful to look backwards. This time last year in Kona we had 185 condos available for sale, this year we have 267, an increase of 82. Since we only sell roughly 35 a month that leaves us with 7 1/2 months of inventory. Hmmm, since a balanced market is a 6 month supply some ranges have slipped back into a buyer’s market.
In houses in Kona we have 279 available compared to May of last year when we had 240, a difference of 39. Due to a severe dip in January sales our average month of selling is at 36, so if you have 279 to sell and we sell 36 a month, that leaves us with … a 7 1/2 month supply… wow!
But there is basically nothing available under $400K that is habitable. From 400K to 500K there are only 15 options, which is pricing a lot of buyers out of the market with strict debt to income ratios in lending. Email me for details!
Notes from Gretchen
The market is all the talk of town, what is it doing and where it is going. Good news is that all of the economic indicators are saying it isn’t going anywhere negative in the next 6-12 months. We have full employment, our contractors are super busy, and we have a strong supply of inventory.
Another strong indicator for us is all cash sales. These are people typically selling their homes on the mainland and buying here to retire, which means they are on strong financial footing, which is always good for Kona. Currently our cash purchases are running 47% of all sales!
Kona All Pending Sales Listed Under $1 Million
Pending Sales are a predictor of what is to come, in this case it is a picture of what didn’t happen… this highlights our storm plagued summer that left us high and dry on buyers.
I‘m fortunate to call the Principal Broker at Hualalai Realty, Rob Kildow, a friend. Having met him on another luxury project many moons ago, he took me under his proverbial wing. After last month’s newsletter he emailed that out at the resort for the super luxury seller/buyers things were busy, so I thought I would check it out for myself… here are the super luxury stats for the year out on the Gold Coast:
2016 to date house sale:
$9.5 million at Hualalai Resort
2016 to date condo sale:
$4.5 million at Kukio Resort
Overall 51 sales year-to-date!
Hawaiian Isle Real Estate, LLC
Principal Broker/ Owner
Direct (808) 329-5667
Top 100 Agents in Hawaii – 2013 & 2014