October Home Sales for Waikoloa Now Over $500K Average Sales Price
Like a stunning wood interior? This new listing (MLS# 266148) is an example of the higher end homes appearing in Waikoloa
Why the big jump?
- One reason is that the inventory of distressed homes – short sales and bank owned foreclosed homes – is rapidly leaving the real estate market in both active listings and home sales. In looking at October sales, there were no distressed homes that closed last month.
- A second reason is the close of a home at the highest price so far this year – $745,000. And, once again, the favorite neighborhood for buyers was Sunset Ridge.
Here is a look at all the October home sales in Waikoloa:
Distressed Sales Update
And future months will also see very few distressed sales. In fact, at this time there are only 3 homes in escrow under $300,000 and two of these are short sales. With the demise of this type of home inventory, known to lower market prices, the entry level price for Waikoloa homes has risen this year into a common range of the mid $300,000’s.
And the top end has risen higher and higher with several new homes being listed in the $700,000’s. There was just a recent sale that has set a new high for a home sale in Waikoloa – a home that sold over the million dollar mark! I will be covering this sale next month in my review of November sales.
I love the Big Island! Aloha.