Waikoloa's September Condo Inventory Still Buyer's Market But Improving
Looking back one year, there have been 58 condo sales in Waikoloa Village with an average sales price of $133,381. That works out to be an average of 4.8 sales a month over the last year. Currently in Waikoloa, there are 35 condos listed for sale.
Doing the math, the current inventory level of condos for sale in Waikoloa Village is 7.29 months, which is a buyer’s market. In the world of real estate, anything under 6 months is considered a seller’s market and over 6 months is a buyer’s market. This is slightly better than the previous month in August, when the supply was at 8 months.
Waikoloa’s newest condo listed for sale (MLS# 248712) at Greens at Waikoloa has ocean views in a complex that is not very often listed for sale; this unit, listed at $155,000, is close to average sales price in Waikoloa in the past year
An interesting comparison is to look at the average sales price over the last year—$133,381—and compare it to the average sales price of the 35 condos currently listed for sale—$208,913. Hmm, seems to be a bit of a difference there…or a bit of a gap between where buyers have been paying and where sellers are now pricing.
Another interesting stat I pulled out of the past years sales was the number of distressed sales—of the 58 sales, 24 were short sales or REOs. So, about half of the condo sales have been distressed sales. Currently, only 9 of the 35 condos listed for sale are distressed properties, so right now the number available is down.
I’ll be back next week to look at September sales. I love the Big Island! Aloha.