The inventory of homes in Waikoloa Village is slowly going down as homes in the village continue to sell.
Kipona Hills REO—WHAT A DEAL—$285,000 For 4 bedroom home
Currently we are down to about 45 Waikoloa Village homes for sale with a whopping half of these being distressed properties. Last month, in May, there were 5 homes that closed with 3 of these sales being distressed properties. These homes ranged in price from a low of $279,900 (for an REO home that had been on the market for 142 days) to a high of $449,000 (for a non-distressed property that was only on the market for 5 days). With 3 of the 5 sales in the $300,000’s it’s no surprise that May’s average sales price was $350,660. Keep in mind that the average sales price for this year to date for the Big Island is about $258,000—which has a wide range of sales from Puna to Kukio. Wow, talk about a big island of diversity!
With 30 homes in escrow these strong sales numbers should continue through the summer. And, with about 2/3 of these homes being distressed properties the trend continues in Waikoloa. Prices have been driven down by distressed properties—the short sales, pre-foreclosures and the REO’s. But don’t think the deals are only found in the low end of the market. Current listing prices for distressed properties run from $199,000 to the $400,000’s.
For more information about any of the numerous homes for sale in Waikoloa Village, contact me.
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