Thanks for taking a look at my Waikoloa Beach Resort condo market update.
Waikoloa Beach Resort – Where do you want to go?
I spend much of my time as a Realtor at the Waikoloa Beach Resort. Hawaii Life Real Estate Brokers has an office at the Queens’ shops and so I get the opportunity to keep my finger on the pulse of the resort. When I work in the office on Mondays – the most common question I get asked is, “What condos are for sale around here and how much do they cost?”
I decided the best way to answer the question is in my blog. I will post updates and together we can watch how the inventory increases or decreases, see if it is a buyers’ or sellers’ market, watch changes in price, etc. Ready?
The Waikoloa Beach Resort has the following condo complexes:
Waikoloa Beach Villas: 6 properties on the market – ranging from $479,000 to $639,000
Waikoloa Colony Villas: 8 properties on the market – ranging from $404,000 to $499,000
Waikoloa Fairway Villas: 13 properties on the market – ranging from $369,000 to $579,000
Kolea Condo Villas: 15 properties on the market – ranging from $745,000 to $2,995,000
Vista Waikoloa: 4 properties on the market – ranging from $459,000 to $545,000
The Shores at Waikoloa: 9 properties on the market – ranging from $300,000 to $730,000
Halii Kai: 22 properties on the market – ranging from $499,000 to $1,800,000
Let’s dig a little deeper into the Halii Kai project and make it our highlight for this blog…
Entrance to Halii Kai
- Average list price (approximate) $871,000
- Range of listing days on Market from 17 days to 457 days
- Average listing days on Market (approximate) – 180 days
Sales at Halii Kai
- Number of properties that have sold this year to date – 7
- Average listing days on Market for SOLD properties this year (approximate) – 183 days
- Average list price of properties that sold year to date (approximate) – $785,000
- Average SALE price of properties that sold year to date (approximate) – $747,000
- Average difference in percentage between List Price to Sold Price (approximate) – 5%
So What Does All That Mean?
First of all – I see an opportunity for this winter buying season that is right around the corner. When you have an abundance of inventory, you have more likelihood to find the property that fits your needs and wants.
How Do I Know There is Abundant Inventory?
The way to calculate the amount of inventory in a market is to look at how many listings exist and then look at how many sales there have been…so in the case of Halii Kai, we have 22 properties on the market and 7 have sold in the last 11 months. At this rate – it looks like we have just under three years of inventory at Halii Kai.
What Else Does That Mean?
When you have enough inventory, that relieves pressure on demand. So you probably won’t have a bidding war with countless other buyers to buy your property. You also will probably be safe with an offer that is close to but not over the listing price. It is up to your agent to help you evaluate the specific circumstances of course, so that you get the details you need to get the property you want for the best price.
Why Do People Like Halii Kai?
- The property is well designed with a very spacious feel. Many of the other complexes feel crowded and parking stalls are tight.
- Halii Kai has its common area pool and fitness center on the ocean!
- The pool and fitness center area has a restaurant and bar and it is being remodeled.
- There are tennis courts.
Check out this listing, Unit 7A (MLS# 289239) currently for sale at Hali’i Kai.
Hali’i Kai 7A, listed by Pam Deery, R(B) and Beth Thoma-Robinson, R(BIC), sits on the Ocean Course at Waikoloa Beach Resort
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Note that this listing and sales data were gathered from the Hawaii Information Service in November 2015. As the market is always changing – check with me for the latest up-to-date information.