In looking at Waikoloa Village homes for sale, one useful tool is to look at the inventory of homes for sale. If there is more than a six month supply of homes, it is considered a buyer’s market; if there is an inventory of homes for sale under six months, that is considered a seller’s market.
In the past year, there have been 85 homes sold in the village with an average sales price of $301,831. Out of these 85 sales, 55 homes have been either a short sale or a REO—or about 65% of the sales have been a distressed sale. (Distressed sales are either short sales or REO’s.) You can see that this type of sale has become more of the norm for sales over a “straight sale” directly with the seller, which does not require bank approval.
At this time, there are 50 homes listed for sale in Waikoloa with an average listing price of $408,569. There is a rather large price range in these homes going from a low of $179,900 for a real fixer upper to a high of $975,000 for a five-bedroom home with a pool.
With just 85 homes sold in the past year, the average number of homes to change hands each month is about 7.1 homes per month. Doing the math on this gives a current inventory of 7 months to sell all the homes in Waikoloa Village.
Last month, the inventory level was at 7.5, down from 8.1 in September. So, at this point, it is still a buyer’s market for homes in Waikoloa Village, but the recent trend has been a reduction in inventory levels, showing some growing strength in sales.
I love the Big Island! Aloha.