Just catching up on the condo sales in the Waikoloa Beach Resort through November 2011:
The number of units sold is still trending lower compared to earlier in the year. The median sales price is also trending lower at $264,000 in November:
(The dropout in the chart in October reflects that there were no closings that month)
The number of active listings had been holding at 49 in Sept. and Oct. As of the date of this blog, the active listings are down at 44 with a median list price of $381,685, down about $2,000 from October’s median list price. It is interesting that there were 53 condos sold in the Waikoloa Beach Resort in 2010. So far in 2011, we are up to 56 and that number will probably grow a bit more before year’s end.
So, sales in units are up already year over year, but slowing down from earlier in 2011. Prices are somewhat lower and inventory is down. Can we make the case for the market bottoming out?