Big Island

Waikoloa Village Update: Home Values Drop in April

REOs, shortsales, and sellers aware of the prices that today’s buyers demand are bringing down prices at Waikoloa Village into the $300,000 range.

Sales at Waikoloa Village averaged at $314,725 last month, bringing figures back in line with the average in the first quarter of 2010, but down quite a bit from March’s average of $400,000. At only four sales, the number of closings was also down slightly from previous months’ average of 5 sales per month.

This Waikoloa Village home was sold even before coming onto the market.

Among April’s four sales were one REO, one short sale, and two non-distressed properties. One of the two non-distressed properties, however, had a huge $100,000 price reduction—from $450,000 down to $350,000—just before going into escrow.

There are now 23 homes in escrow in the village and only three of these homes have an asking price over $400,000. We can therefore expect that the next four or five months will continue to see average sales prices in the $300,000 range.

A newly listed short sale at $365,000, MLS 234340 features hardwood floors, tile, and a stainless steel refridgerator

There are now 53 homes for sale in Waikoloa, and 34 of them are priced under $400,000.  Of course, many of these are short sales and REO’s … or homes of smart sellers who are aware of the price range that today’s buyers demand.

Contact me for more information about the numerous homes for sale in Waikoloa Village.

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