KONA COAST HAWAII MARKET UPDATE

Kona Coast Map
Kona Coast Market Update

-For the Kona Residential stats on the Big Island of Hawai’i the Median Price moving in an upward trend standing at $553,500. It is likely the lack of affordable inventory under $500.000 and corresponding increase in sales in the higher price ranges will continue to move the price higher. There are only 23 homes listed under $500,000. The number sold in the last 12 months is higher than the previous 12 months. This along with 8% increase in Average Price has resulted in Sales Volume being $19.0M higher.

For a complete PDF copy please email me. On Page 2 note the Pie Chart clearly illustrates the shrinkage in sales numbers in the under $500,000 price range. This is being replaced by an increase in sales in the higher price ranges. In this report we see nice increases over last year in the over $900,000 price levels. This seems to be a very positive recent trend that likely marks a new phase in this cycles recovery. In the over $4.0M price range we see nearly a doubling of sales in the 12 month period.

-The Percentage of MLS listings that are either REO or Short Sales island wide continues its gradual declining trend. The Island wide average now stands at 10%, the lowest it has been since declining from the peak levels in 2012 Reports. In 2012 the percentage was 40% or more. The Island wide REO count for the four lenders tracked has leveled off in the past 6 months has also is on a downward trend over the past 12 months.

-The Condo year over year data is following a trend similar to what we currently see in Residential data. Inventory is quite high, up 38% from a year ago. Great shopping conditions for Buyers.

10 DIRECT OCEANFRONT LOT LISTINGS TMK’s 3-6 AND 3-7

FOR INFORMATION ON PUAKO DIRECT OCEANFRONT LOTS NOW AVAILABLE

5-24-2016BIG ISLAND OCEANFRONT LAND LISTINGS

-The Land market year over year stats show increased inventory and a decline in Pending Sales. Median prices is up slightly from a year ago.

MLS DATA

272634 LND A 654 $2,900,000 3-5-2-7-4 FS Historic Kapanaia Bay Oceanfront Parcels. Kapanaia Lots #:8 and 9 93.10 ac

287794 LND A 227 $2,475,000 3-5-3-7-22 FS One of the finest oceanfront parcels in all of Kohala. North Kohala 22.08 ac

285743 LND A 291 $18,500,000 3-5-4-8-43 FS THE LAST AND BEST LARGE OCEAN FRONT RANCH IN NO. KOHALA Honomakau & Puehuehu Lot #:4 498.00 ac

274279 LND A 639 $1,495,000 3-5-5-7-2 FS KOHALA OCEANFRONT AIRPORT ADJACENT Lot #:C 88.07 ac

269902 LND A 821 $2,900,000 3-5-5-8-60-1 FS Hoea Oceanfront 41 acres Lipoa Gulch 41.60 ac

289479 LND A 194 $3,600,000 3-5-6-1-109 FS Spectacular Oceanfront Estate 56-101 Pualani Rd 24.11 ac

291181 LND A 152 $3,975,000 3-5-7-1-20 FS 35+ Acre Oceanfront Land North Kohala North Kohala Oceanfront 35.34 ac

294132 LND A 50 $3,400,000 3-5-8-1-10-1 FS 62.5 Acres w/Approx. 1500 Ft. of Ocean Front, North Kohala Coastline Kaupalaoa Ranch #1 and 2 62.50 ac #1

287867 LND A 257 $1,268,000 3-5-9-16-11 FS 59-118 Lauipala Pl 22,306 sqft

292096 LND A 124 $1,439,000 3-5-9-16-28 FS Oceanfront parcel on lovely Bay Kohala Waterfront 59-114 Umaumalei Pl 28,536 sqft

274269 LND A 471 $3,900,000 3-5-9-17-3 FS PRIVATE OCEANFRONT ACREAGE Lot #3 5.0070 ac

286650 LND A 227 $4,500,000 3-5-9-17-6 FS Oceanfront Acreage with Private Cove 59-1007 Kaihonu Pl 8.39 ac

274267 LND A 471 $4,600,000 3-5-9-17-1 FS GOLD COAST OCEANFRONT ACREAGE Lot #1 6.60 ac

274273 LND A 471 $4,700,000 3-5-9-17-5 FS GOLD COAST OCEANFRONT ACREAGE Lot #5 5.14 ac

286626 LND A 227 $4,900,000 3-5-9-17-2 FS Spectacular Kohala Oceanfront Acregae 59-3019 Kailani Pl 5.0030 ac

286630 LND A 227 $12,500,000 3-5-9-17-7 FS Kohala Ocean Front Acreage with Development Potential Lot #:69-7 28.18 ac

294779 LND A 40 $3,500,000 3-6-9-9-10 FS OVER 200 LINEAL FEET OF OCEANFRONT IN THE HEART OF THE KOHALA COAST! Naupaka Place #10 1.56 ac

294908 LND A 37 $4,000,000 3-6-9-9-11 FS SPECTACULAR OCEANFRONT PARCEL! Naupaka Kai Pl 1.09 ac

276184 LND A 641 $20,000,000 3-7-1-3-4 FS North Kona 21.48 ac

275411 LND A 658 $935,000 3-7-5-5-40 FS Fantastic Kona Oceanfront Offering! 75-5446 Kona Bay Dr 16,972 sqft

-Note on Page 7 Kona Residential Price chart since 1972 has been updated with the new 2015 data. A trend line has been added. The Average Residential Price change for 2015 was +4.0%. This price increase is representative of homes in Kona priced below $700,000. This is quite representative of the actual increase in Value for homes in that price range. Many of the sales are resales of the same property and therefore better represent the change in Value.

-Note on Pages 8 of the, “Kona vs West Coast Inventory and Sale Price Trends,” are the most useful future trend indicators. These Charts maybe very useful tools in forecasting the future Price trends in Kona. The San Diego sale price data and appreciation rate data seem to be a very reliable leading indicator for our Kona price trend. It appears that the Kona price trend lags San Diego by about a year. San Diego year over year prices to showing an increasing trend in April last year.

biz card abr
Renee H. Kraft

 

 

 

Until Next Time…A Hui Hou!

 

 

AS ALWAYS MAHALO TO FELLOW INDUSTRY COLLEAGUE MICHEAL GRIGGS REALTOR BROKER WITH CLARK REALTY CORPORATION KAILUA KONA OFFICES FOR ALLOWING ME TO USE HIS DATA AND REPORTS WITH PAST PRESENT AND FUTURE CLIENTS.

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