A Comprehensive Analysis of Single-Family Home Trends – December 2023

As of December 2023, the real estate market for single-family homes in Waikoloa Village shows a slightly shifting market, with 28 single-family homes for sale and eight are currently in escrow.

Below is a market analysis of single-family homes based on the latest data:

Market Overview:

Compared to last year, the total number of home sales in Waikoloa Village has decreased slightly from 94 to 83.

The median sales price slightly increased from $895,000 in 2022 to $900,000 in 2023.

The average time homes spent on the market more than doubled from 27 days in 2022 to 69 days in 2023.

The percentage of homes sold above the asking price dropped significantly from 44 homes in 2022 to 7 homes in 2023.

Sales by Neighborhood:

Different neighborhoods in Waikoloa Village, such as Kikaha at Wehilani, Kilohana Kai, and Sunset Ridge, have shown variations in total sales, median prices, and average price per living square foot. For instance, Kilohana Kai had a median price of $1,120,000 with an average price per living square foot of $704.

Sales by Bedrooms:

• Two-bedroom homes had a median price of $797,500, accounting for two sales.
• Three-bedroom homes had a median price of $877,500, accounting for the majority of sales with 64 total sales.
• Four-bedroom homes had a median price of $930,000, accounting for nine sales.
• Five-bedroom homes had a median price of $1,030,000, accounting for five sales.

Price Range Dynamics:

Homes in different price ranges experienced varied on the amount of days they stayed on the market.

• Homes priced between $750,000 – $850,000 had an average of 55 days on the market.
• Homes priced between $851,000 – $950,000 had an average of 61 days on the market.
• Homes priced between $951,000 – $1,050,000 had an average of 64 days on the market.
• Homes priced between $1,051,000 – $1,150,0000 had an average of 34 days on the market.
• Homes priced between $1,151,000 – $1,250,0000 had an average of 34 days on the market.
• Homes priced between $1,251,000 – $1,350,0000 had an average of 28 days on the market. 

Current Listings and Sales:

As of December 19, 2023, there are 28 single-family homes for sale in Waikoloa Village, and eight are in escrow.

Data provided from Hawaii Information Services and while the data provided here has been produced and processed from sources believed to be reliable, no warranty express or implied is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness thereof and HIS assumes no liability with respect thereto.

Recent Trends:

Over the last three months, the average home in Waikoloa sold for about 2-3% below list price and took around 69 days to go into escrow.

This snapshot of the Waikoloa Village real estate market indicates that most homes are selling at list price or slightly below the original price and are staying on the market longer to find the right buyer.