Waikoloa Village condo sales for 2013 showed a small overall gain over 2012. Last year, there were 49 total sales for the area, as compared to 2012’s total of 46 condos sold.
Waikoloa Village is known for its many condo complexes along the golf course
Along with total numbers sold having a slight increase, the increase in average sales price was also fairly small. In 2012, the average condo sales price for Waikoloa was just $167,698 and, in 2013, the average sales price only increased up to $175,786. This gain was just under 5% for the year.
Golf course and ocean views as seen from Waikoloa Fairways listing (MLS# 270218)
What this small average sales increase doesn’t show is the rather dramatic increase in entry-level prices for Waikoloa condos. Last year had what may be the last sales to close under $100,000, with 3 Fairway Terrace condos closing in this price range.
In today’s market, the lowest priced condo in Waikoloa is still a Fairway Terrace unit, but now prices start at $129,000 for a one bedroom unit and $155,000 for a two bedroom model. Elima Lani has had a similar change in prices going from a low of a $110,000 sales price in 2013 to a current listing price that starts at $175,000.
Waikoloa Villas (MLS# 271017) redone with granite, maple, and much more
Almost all the complexes in Waikoloa reported a sale in 2013, with the one exception being the Pointe at Waikoloa. As might be expected, the most popular complex for number of sales was also the lowest priced complex – Fairway Terrace with 11 sales.
But, right up there with 10 sales was the Waikoloa Villas complex, which has been very popular for buyers wanting a vacation rental. Right now, buyers will find many units to choose from at the Villas, with prices starting in the mid $200,000s for an “original” interior unit into the mid $300,000s for a completely updated and upgraded condo.
Where is the Waikoloa Condo Market Heading in 2014?
I think this year should be a great year for Waikoloa condos and we should see a continuing increase in prices. I’ll be here to keep track of this year’s trends in Waikoloa condos.
I love the Big Island! Aloha.