In looking at Waimea homes for sale, one useful tool is to look at the inventory of homes for sale. If there is more than a six month supply of homes, it is considered a buyer’s market; if there is an inventory of homes for sale under six months, that is considered a seller’s market.
Currently, there are 79 homes for sale in Waimea with an average time on market of 208 days. The average sales price of these homes is $532,265. There is a fairly small number of distressed properties for sale at this time, a total of 13 REO’s or short sales.
In the past year there have been 104 homes sold at an average price of $414,163. Of these sales, there were 33 distressed sales—or about 32% of the total sales. It is interesting to compare this percentage with Waikoloa Village where the percentage of distressed sales is quite a bit higher at 65%—about double the number in Waimea.
With 104 sales, the average number of homes sold per month is 8.6 homes. If there are now 79 homes for sale, the number of months needed to sell this inventory is 9.1 months. This inventory level is down slightly from October’s level of 9.5 months. We will soon be in the busy time of home selling, starting around Christmas and through Easter. It will be interesting to see if this trend of lower selling time continues into next year’s busy season.
I love the Big Island! Aloha.