Waikoloa Condos For Sale – Is It a Buyer’s or Seller’s Market?
What can you get for close to the average list price of $228,795? This Waikoloa Fairways condo (MLS# 250902), listed at $259,000
Is it a Buyer’s or Seller’s Market?
Buyers and sellers are both interested in knowing if the real estate market is either a buyer’s or a seller’s market as this gives an idea on what price to offer on a property and how hard you can usually negotiate. In real estate, any time there is more that 6 months of inventory for sale, that is a buyer’s market. If the condos for sale are under a six month inventory, it is a seller’s market.
Waikoloa Village Condo Sales For the Past Year
Taking a look at Waikoloa Village condos for sale, in the past year, there have been 56 condo sales with an average price of $140,261. This averaged out to be 4.6 sales per month in the past year. The distressed sales – short sales and bank owned units – were a big percentage of sales accounting for 26 of those sales.
Current Waikoloa Condos For Sale
At this time, there are only 38 condos listed for sale in Waikoloa with an average list price of $228,795, but in a big shift from last year, at this time there are only 4 distressed properties for sale. This is a huge drop in this inventory and this tracks what has been happening in Hawaii. In short, the great deals that these distressed properties usually represent are disappearing from the market of condos and homes for sale. At this time, Waikoloa Village is a fairly strong buyer’s market in condos, coming in with an inventory level of 8.2 months.
I’ll be back next month to review the February sales. I love the Big Island! Aloha.