For the first time in 2012, Waikoloa had a home sale that closed over the $500,000 mark, with a sale of a Sunset Ridge home at $535,000. Overall sales numbers were good at an average price of $319,000, but overall number of sales was a bit soft at just 5 sales in September.
This home (MLS# 255106) listed at $569,000 is a Sunset Ridge home with views and landscaping
And, short sales and bank owned properties (REO’s) continued to dominate the sales in Waikoloa with a whopping 80% of sales! Even the sale at $535,000 was a short sale. Here is a look at September sales in Waikoloa:
Waikoloa Inventory of Homes For Sale Is Low
The selection of homes available for sale is getting low in Waikoloa with just 32 homes on the market at this time. There are only three homes listed in the $200K’s, 10 in the $300K’s, 10 in the $400K’s, 6 in the $500K’s and even 1 at $1,499,000. There are 31 homes in escrow at this time.
While homes priced in the $200,000’s have been the hot sellers these past months, there are now 10 homes in escrow that are listed in the $300K’s, as well as one home in the $500K’s and one in the $600K’s.
Foreclosures Still Dominate Waikoloa Homes in Escrow
Waikoloa continues to have astonishing numbers of homes that are distressed properties being picked up by buyers. There are only 10 homes out of the 31 that are not a short sale or a REO. This is a very high percentage of 67% of the homes are foreclosure homes.
And, of those 21 homes, only one is a REO and the rest of the homes in escrow – a total of 20 homes – are all short sales. Clearly, Waikoloa buyers perceive a good value in these distressed properties.
I love the Big Island! Aloha.
Jayney Sharpe, RA SFR
October 9, 2012
It sure is refreshing to see the prices coming back up in Waikoloa. I just love the Village. Wouldn’t mind living there if I move back! Nice post Pat!
Jayney Sharpe, RA SFR
October 9, 2012
It sure is refreshing to see the prices coming back up in Waikoloa. I just love the Village. Wouldn’t mind living there if I move back! Nice post Pat!
Todd Barrett, R(S)
October 9, 2012
As always, if I need accurate data on the Waikoloa market, I only need to wait for Pat’s next blog post. Great info as always Pat; thanks!
Todd Barrett, R(S)
October 9, 2012
As always, if I need accurate data on the Waikoloa market, I only need to wait for Pat’s next blog post. Great info as always Pat; thanks!
Katie Minkus, R(B)
October 10, 2012
Wait just one second… there are ONLY 32 properties available active on the market in Waikolola Village right now?? Are you serious? If I recall, a few years back we were averaging 100+. With 31 in escrow seems to me we’re at less than 3 months worth of inventory… a Seller’s market in anyone’s book! Wow!
Katie Minkus, R(B)
October 10, 2012
Wait just one second… there are ONLY 32 properties available active on the market in Waikolola Village right now?? Are you serious? If I recall, a few years back we were averaging 100+. With 31 in escrow seems to me we’re at less than 3 months worth of inventory… a Seller’s market in anyone’s book! Wow!
Pat Strausse, RB
October 10, 2012
@Katie Stay Tuned, my next blog post will be looking at inventory levels in Waikoloa today for the whole village as well as certain price points.
Pat Strausse, RB
October 10, 2012
@Katie Stay Tuned, my next blog post will be looking at inventory levels in Waikoloa today for the whole village as well as certain price points.
Kathy Awai, R(S)
October 10, 2012
I rmember about 6 years ago, we had around 30 propeties for sale…..and that was a regular market, before things fell apart. So yes, things are changing. Also, there is almost NOTHING under $300K. If it’s priced under that amount, it sells quickly. There are also a scant amount of condos for sale. I agree with Katie, and the market here is turning….at least for now.
Kathy Awai, R(S)
October 10, 2012
I rmember about 6 years ago, we had around 30 propeties for sale…..and that was a regular market, before things fell apart. So yes, things are changing. Also, there is almost NOTHING under $300K. If it’s priced under that amount, it sells quickly. There are also a scant amount of condos for sale. I agree with Katie, and the market here is turning….at least for now.
Catherine Klug, R(S)
October 11, 2012
I was recently showing properties to clients who were looking for a home with an ocean view between $300K and $400K. Out of the 10 properties listed, only 2 had an ocean view! Very little to chose from:-(
Catherine Klug, R(S)
October 11, 2012
I was recently showing properties to clients who were looking for a home with an ocean view between $300K and $400K. Out of the 10 properties listed, only 2 had an ocean view! Very little to chose from:-(
Pat Strausse, RB
October 11, 2012
@Kathy- I agree with you, the market has shifted. Number of distressed properties available for sale is way down and soon new short sales that come onto the market will have to come in at
higher prices. @ Catherine, I think the $300,000’s will be the entry level prices for next year in Waikoloa.
Pat Strausse, RB
October 11, 2012
@Kathy- I agree with you, the market has shifted. Number of distressed properties available for sale is way down and soon new short sales that come onto the market will have to come in at
higher prices. @ Catherine, I think the $300,000’s will be the entry level prices for next year in Waikoloa.