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West Hawaii Real Estate Update: March 2013

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Testimonial

“I had always heard that Gretchen was the Realtor to go to and she was excellent! She found us our dream home. She is so dedicated to her clients and the follow up was fantastic… if there is something you need she is willing to go that extra mile to help you get whatever it is. I would highly recommend her if you are interested in buying a home. ” Alex & Heather (read more)

West Hawaii Real Estate Update

 March, 2013: Volume 10, Issue 3

The Kona market is definitely continuing to hold its own. We aren’t seeing any let up in interest even with all of the issues in Washington these days. Sales are strong at 74 overall and inventory continues to drop, down 22 residential properties this month alone. Pending sales are at their highest mark of the last few years at 228.

Price… well that is definitely up and there are now only 4 fee simple houses listed under $300,000 in Kona… so very soon there won’t be any. The next bracket up at under $400,000 has 22 with an average of $377,000 so you can see that this bracket is leaning toward the higher end.

In condos there are no fee simple ones left under $100,000, and under $200,000 there are 29 with an average price of $167,000… once again leaning toward the high end of the bracket.

If you have has been waiting for the market to recover to sell… email me today!

Luxury Real Estate

Luxury is hot once again in Kona! With 12 over all sales in February the resorts garnered 10 of them.

In houses Kukio had 4 sales, Hualalai 2, and the other 2 were outside of the resorts in Makalei and Alii Point subdivisions. The top sales price was Kukio for $1 under $10 million… there just has to be a great story to that! The house was 6,000 sf on one acre.

Pending sales of houses is high with 8… two of them over $15 million… wow!

Condos at Hualalai seem to have really caught fire… there are 5 pending priced up to just over $4 million.

Land sales in the resorts were popular as well with 4 overall… 2 in Kukio and 2 in Hualalai… once again Kukio took top honors with a $4.5 million sale of a 1.66 acre oceanfront lot. Two pending sales will hopefully make news next month.

Out in Kohala there were 4 overall luxury sales consisting of 1 house and 3 condos… highest sale was one of the Hale’s at Pauoa Beach at the Mauna Lani for $2.2 million.

There are 12 pending sales in Kohala that will make great news next month!

North Kona Houses & Condos Under $1 Million…

 

View more graphs on my website!

Notes From Gretchen

Kona is hopping these days! Lots of new construction… full parking lots at the stores on the weekends… lines in restaurants… all showing that things are picking up… yeah!

We are starting a service to accommodate the new law requiring all off island owners to have an on island contact and that it be posted in all the vacation rentals.

Since a lot of owners want to manage their own properties but are off island, we will be on call 24-hours a day for a flat fee of $50 a month for anyone needing that to be legally compliant. Email today for details!

Economic News

  • Bankruptcy filings in the state are down 25% from February of last year.
  • Cruise ship traffic to the state is up 11.5% this season.
  • Oahu topped the list of the world’s island and sun destinations this year, Maui was third and Kauai and the Big Island finished in the top ten… yeah!
  • Hawaii was found to be the happiest place in the US by researchers at the University of Vermont… but we knew that! Read the USA Today article.
  • Hawaii states home prices appreciated 11.6% year-over-year in November when distressed sales were factored out, that was the 4th biggest appreciation in the nation.

Out On The Town

Here I am hamming it up in a famous restaurant on one of the islands… and if you know the place there are enough clues to guess! This long weekend turned out to be cold and rainy and so we took shelter here to grab some great food and one of their famous cold drinks. Name the drink, town, and restaurant to win a Starbucks gift card! (I have to make it harder… you guys are too good!)

Last month’s photo contest again went to the first person… you guys are amazing! Greg Mangan was the first in with the answer of Hokuli’a… congrats!As usual… family and friends (and Realtors) are sadly excluded from winning but feel free to guess away… aloha!

Market Snapshot

 

Closed in
February, 2013

For Sale in
March, 2013

Kailua-Kona:

39 Homes
21 Condos
14 Land

Sold

Kohala:

13 Homes
14 Condos
7 Land

Kailua-Kona:

231 Homes
160 Condos
247 Land

For Sale

Kohala:

136 Homes
141 Condos
90 Land

Gretchen L. Lambeth
Hawaiian Isle Real Estate, LLC
Realtor(B)
Principal Broker/ Owner

Broker of the Year – 2010

Direct (808) 329-5667

75-170 Hualalai Road, D-115

Kailua-Kona, Hawaii 96740

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