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.