Last month was another good month for home sales in the Big Island’s town of Waimea (Kamuela) with a total of eight home sales for the month. And, once again it was the lower priced, greener side of town that lead the sales parade with a total of 5 sales to the dry side’s 3 home sales.
Of course, there were some distressed sales with one REO green side sale, and on theÂ dry side one short sale and one REO sale. This would make the distressed sales ratio to be 3/8, or 37%. One change that has been happening over the past months, is the average sales price for wet side homes. Last month’s 5 home average sales figure was creeping up to the $300K level with an average sales price of $293,000.
This Sandalwood home is 2,305 sq. ft. on an acre lot and sold at a short sale price of $585,000
On the dry side of town, the REO sale was for a home in Lualai and that home had a sales price of $320,000. There was also a home sale in the Waiaka subdivision for $480,000.
The sales leader for December was a home sale in the Sandalwood subdivision for a home on one acre that sold at $585,000 as a short sale. Interestingly, there was also a lot sale in Sandalwood last month for a 1.2 acre lot for $415,000. There are 26 homes in escrow currently ranging from a wet side home priced at $188,000 to a Sandalwood home at $655,000.
At this time, there are 70 homes for sale in Waimea and prices are still starting below $200,000 for homes on the green side of town. In fact, there are 7 homes listed for sale that are under $200,000. The high end of the market is about a half dozen home in the million dollar range in dry side Waimea.