Mauna Lani condo sales have been strong all year long! Even though our weather seasons are pretty much all the same, there is a selling season in Hawaii, as in most tropical areas. Our selling season officially begins in mid-November and runs through the end of April. Although this year, we saw little slow down during the summer months with signs indicating we may experience something we haven’t seen in several years here in Hawaii; low inventory!
Mauna Lani Resort Inventory
With the inventory at a lull, the asking prices have started to increase, as predicted. It will be interesting to see how the buyers react to the increased prices now that the “traditional” sales outnumber the “distressed” properties throughout the resort.
This is the first time since 2008 that the inventory is actually lower than the sales for the year. Okay, that one may not make sense as it is so late in the year. There are currently 47 condos on the active listing market with 10 pending sales and 56 closed sales since the first of the January, 2011.
The most interesting to note is that 26 of those condo sales have occurred since June 1, 2011; combined with the 10 pending sales, the second half of the year is actually stronger than the first half! The indication being that the market is holding its own during the spring—fall months, which is not normal for the seasonal sales we normally experience here on the Big Island. The signs of reductions in inventory are usually a sign that we have hit bottom, or are actually coming out of it!
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