Waikoloa September Home Sales Drop – Waikoloa Village Sales Stats
Last month’s home sales for Waikoloa Village were really slow with only three homes for the overall area, including Paniolo Estates, and just two sales for Waikoloa Village proper. August home sales seemed slow with just four sales in the Village, but now to have just two sales shows a huge slowdown in activity.
The two homes that did close were REO’s, or real estate owned homes—homes that have gone through foreclosure and are now owned by the banks. These REO’s could be some of the last REO sales for the near future, due to the recent foreclosure law in Hawaii. It’s looking like the number of REO’s is going to decrease. Of the fourteen homes in escrow, only 4 are REO’s and of 57 homes listed for sale there are only 10 REO’s listed for sale.
Here is a look at last month’s sales in Waikoloa Village:
Since actual closings can take at least two months, and in the case of short sales and REO’s sometimes several months, the best way to track current market mood is to look at recent homes going into escrow. Last month, there were eight homes in the overall area that went into escrow, including three in the Paniolo Estates area. So, while September sales were very slow, the activity of homes into escrow was a bit better.
I’ll be back next month to look at October home sales. I love the Big Island! Aloha.