Waikoloa Village Houses For Sale Still A Seller's Market In Inventory Numbers
You can forget all the bad housing news you have heard recently when you look at the housing market in Waikoloa Villageâ€”the inventory of houses for sale in Waikoloa remains slightly under a 6 month supply.
After several months of slight declines, it moved under the magic 6 month mark last month. In the past year, there has been 99 home sales, and with 48 homes listed now, that makes it a 5.8 month inventory of homes for sale. In real estate, six months is the separation between a buyer’s and a seller’s market.
As you have probably heard, real estate is local, and right now on the Big Island Waikoloa Village is a hot market for housing sales. Why? Because many of the homes have been priced in the sweet spot of under $300,000. And yes, most of these homes have been distressed salesâ€”short sales and REOs. There seems to be a continuing flow of buyers in this price range.
This gem of the Village (MLS# 245343) combines an award-winning architect with craftsmanship and panoramic views. Listed at $755,000, this home tops the list in Waikoloa Village
But, not all sales have been limited to the sub $300,000 range. In May, out of 12 home sales, half of the sales were in the $300,000+ range. This is a good sign for Waikoloa home sales. Current inventory of homes for sale shows 48 listings in Waikola Village, but there is only one home now available under $250,000. A couple of month ago, I remember showing when there were about a dozen homes in that price range, and now, there are only 11 under $300,000…and 4 of those are at $299,000.
We may be out of lower priced inventory for now…BUT…the homes that have been priced in the low $200,000s have been priced there for a reason. Short sales and REOs are usually in need of some attention and money, and often are not move-in ready. A short drive around Waikoloa will also show you several empty homes just sitting there empty…future inventory.
It seems very possible that Waikoloa Village can continue to have a two tiered marketâ€”the low priced entry market with the distressed sales and the more mid-range market in the $300,000s and occasional upper end. That’s one of the beauties of Waikoloaâ€”it has both to offer buyers at this time.
I love the Big Island! Aloha.