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Sales Statistics Show Impressive Price Gains For Several Hawaii Neighborhoods in 2014

A few weeks ago, the sales numbers in the districts of East Hawaii, and Hawai’i Island overall, clearly indicated that the market continues to improve. Sales data from a neighborhood near you will likely follow the same trend. In fact, some neighborhoods showed huge gains in prices.

stats for denise

Most Impressive Gains

Let’s take a closer look at the stats in the table above. The most impressive gains occurred in HPP, Pacific Paradise Gardens, and the three subdivisions located to the left of the highway near Volcano Village (Royal Hawaiian Estates, Mauna Loa Estates, and Ohia Estates).  

In fact, closed sales in each of these areas increased around 50%. Leilani showed marked improvement while Nanawale is definitely still struggling. Hilo showed a small (and probably insignificant) decrease. Sales numbers remained basically stable across the board.

Remember, comparing a single quarter of one year to the corresponding quarter the next is only a small sample of the market. Looking at a benchmark someplace in the middle (2nd as a placeholder) are areas where data was not tracked prior to 2013 because activity was so slow. All prices shown are median prices. Remember, other factors such as decreased inventory definitely impact sales statistics.

Significant Trends Not Shown

Not shown are significant trends we are beginning to experience in a big way. Condo sales, which have languished for years, are showing a decrease in days on the market. This indicates stabilization and improvement. The residential segment over $500,000 is a price point that for years was a definite challenge.

There have been 8 sales over $500k in Puna including one sale at $799k not on the ocean in HPP. Hilo has had 9 sales during the 1st quarter. Properly priced properties are experiencing brisk showing activity and strong sales. Interestingly, there have been 5 sales over $1,000,000 in East Hawaii since 2013.

What’s Happening in Your Neighborhood?

Don’t see your neighborhood? Send me a note and I’ll get the data to you. Our popular “market snapshot” will keep you abreast of listings and sales activity near you. Just send a request and we’ll get you started right away! 

While our market isn’t back to values and activity levels of 2005 (which is probably a good thing), things are definitely improving in the neighborhoods of the beautiful East side of Hawai’i Island! 

Data obtained from Hawaii Information Service

About the Author

Denise Nakanishi

Denise Nakanishi is a REALTOR Broker with Hawai'i Life. Denise Nakanishi is one of Hilo's most acclaimed real estate agents. She reached the rank of Major in the US Army and is now known by many as "Major Mom." The nickname fits–not only does Denise bring the discipline and mission-oriented attitude you'd expect, she's also caring and compassionate, always looking out for her clients like they're her own family. Having made the Big Island her home since 1987, Denise combines her extensive knowledge of the area with a sharp focus on customer service and the results speak for themselves. She's the recent recipient of the Best East Hawai`i, Best of Zillow, Chairman's Circle Award, President's Circle, Top Producing Agent since 2001, and Realtor of the Year awards. Denise stays ahead of the curve because she's passionate about education–she served as Education Chair for Hawaii Island REALTORS® for many years. She's one of Big Island's best real estate resources, known for her weekly article in the Hawaii Tribune Herald. Denise leads Team Nakanishi for Hawai`i Life, who is committed to their family, work, and community. In her little time away from work, Denise is a committed runner and Grandy. She also devotes many hours to various Veterans' Organizations, the East Hawaii Cultural Center, and the Hawaii Island REALTORS®. You can email me at denise@hawaiilife.com or via phone at (808) 936-5100.

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