Big Island Kamuela Home Sales For August Show Stronger Numbers

The Big Island town of Waimea (Kamuela) home sales for August were one of the better selling months in 2010 with a total of six sales, up from only two sales in July. Year-to-date Waimea has had a total of 36 sales and is just slightly ahead of last year’s sale figure of 35 home sales. These dead even sales numbers continue to lag the overall upward trend of the rest of the Big Island, where August sales numbers year to date are up almost 35% .

This dryside home shows the charm of the green hills of Waimea. It sold in August for $930,000.

Once again, the green side of Waimea had the majority of the sales with a total of four, leaving the dry side only two sales for the month. The average sales figure was up quite a bit in August, hitting $422,900. Distressed properties were again a large percentage of total sales with a total of three, composed of two short sales and one REO.

Green side sales had two sales in the popular Puu Nani subdivision located just past Hawaiian Homes in the hills. There was also a short sale for a home in the nearby Mokuloa subdivision that closed at $442,500 for a listed price of $550,000, by far the lowest sale in recent Mokuloa history. This particular home actually had another short sale in its history, when it sold as a partially built home in 2002 for only $270,000. The only other sale this year in Mokuloa was for $600,000.  One other sale on the high side of green side sales was a Puu Nani home with 1942 sf of living space that sold for $410,000.

On dry side Waimea, the top sales of the month was $930,000 cash for a charming home that had been listed at $1,075,000. This home is in the heart of Waimea, on just over 2.5 acres. The other dry side sale was for a REO property in the Ahuli Park subdivision for $214,900.

Overall, the number of homes for sale grew slightly in August with 16 new listings coming onto market.  There were a total of eight homes that went into escrow last month with the new phase 3 at Lualai at Parker Ranch bringing in three of these escrows. A Lualai home was also one of only two price increases last month, compared to 20 price drops.

Currently, the total number of homes on the market in Kamuela is 90. For more information, please feel free to contact me.