Waikoloa's September Home Inventory Shows Stronger Buyer’s Market
Once again, it’s time to look at the inventory of homes for sale in Waikoloa Village and see if it’s a buyer’s market (over 6 months of inventory of homes to be sold) or a seller’s market. Looking back over the past year, there have been 80 homes sold in the village proper and a total of 89 homes if you include Paniolo Estates.
This month, I’m adding something new and have an average sales figure for the past year—$309,087 including Paniolo Estates, and for just Waikoloa Village, the average sales figure for the past year was $320,624.
This house (MLS# 247349) may be close to the average price of $320,000, but there is nothing average about the ocean views from this house—a must see if you want views!
Right now, there are 54 homes for sale in Waikoloa, so this gives us an inventory of homes for sale of 8.1 months—a buyer’s market. In August, when I reported on the inventory of homes for sale the number was at 6.48, so Waikoloa has fallen a bit backwards in the past month. Last month, Waikoloa only had 47 homes on the market, but now that has grown to 54 homes.
One other interesting stat that I pulled out of this past years’ sales was the number of distressed sales. It was a BIG number—52 of the 80 sales were either short sales or REOs! This point was proved out by my last buyer that I took around Waikoloa Village, just a couple of days ago, looking for homes. I’ve always said that after price, in Waikoloa, buyers always ask, “Does it have an ocean view?”
There is also a third question that is almost always asked, “Is is a short sale or a REO?” This was the first question my client asked when we pulled up to a house, then he asked the price. So, this is the world of real estate today. I’ll be back next week to look at September sales in Waikoloa Village.
I love the Big Island. Aloha.