Not many surprises here.
The real estate market in East Hawaii is trending steadily up across the board. Sales are up, inventory is decreasing, interest rates remain low and loan programs are getting more liberal. There are still desirable selections among current inventory and any Sunday drive will reveal new construction everywhere.
We really have no indication that things will change except but common sense would dictate that interest rates will begin inching up any day.
Get ready to compete with other buyers.
Get your credit package in order. You’ll likely be competing with cash buyers.
It’s also a good idea for buyers to have their REALTOR® set them up on an automatic notification so they will be alerted regarding new listings as soon as they hit the market.
There are clear market winners.
Also interesting is that the number of lot sales in Puna is up almost 25%. Not surprising because spec builders are snapping them up.
Island-wide, there were 1750 residential sales thru Sep 2016. That number this year is up over 6% to 1861. The median price increased 5.4% to $342000.
As always, if you don’t see your neighborhood here, I’m happy to provide a custom report. Keeping up with your neighborhood on a regular basis is the best way to determine if your piece of paradise is solidly increasing!