Archive for the ‘waikoloa new homes for sale’ Tag

Waikoloa Village Homes Market Update   Leave a comment

It’s officially summer….time for the mid-year Waikoloa Village Market Report. Inventory is low at 31 homes currently for sale ranging in price from $310,000 to a high of $847,750 with most homes listed in the mid-$400,000s. There are 30-homes in escrow, waiting for their sale to close at this moment. Wow! There have been 48-homes sold so far in 2014. Short sales and foreclosures still appear and sell quickly if priced right, but they are no longer a major part of the market. The limited inventory may nudge prices up in Waikoloa for the near future. The lack of vacant land to build on here also puts upward pressure on the prices. Click here to see Year to Date market report.

The first quarter of 2014 saw 21 sales at an average price of $434,257. Homes were selling within 97% of their listed price in an average of 94 Days on Market (DOM). This compares well to the first quarter of 2013 where the average price was $335,369 of a total of 16 sales. That is a year to year, first quarter price increase of 29% and a 31% increase in the number of sales.

There were 27 homes that sold in the second quarter of 2014 at the average price of $472,348. Sellers realized, on the average, about 97% of their asking price in an average of 91 days on market. There was large volume increase of 28% over the number of homes sold in the first quarter of this year. This same quarter in 2013 saw more sales, 31, but at a 21 % lower average price of $390,569. The 2014 second quarter price is also higher than the third quarter 2013 average of $368,539, but, lower than the 2013 fourth quarter average price of $496,999. This average may be higher because only 22 homes sold in the last quarter of 2013, one which was over a $1,000,000.

There are a lot of buyers looking to call Waikoloa home. If interest rates remain low and the world stays calm, we expect to see prices continue to move into the upward direction.

As always, please feel free to call or email to discuss. Be happy, stay well and a hui hou

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Waikoloa Village Golf Course

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Waikoloa Village Residential Market Report   1 comment

The Waikoloa Residential Real Estate market, along with most of the Big Island and State, is returning to robust health, shedding distressed properties and OLYMPUS DIGITAL CAMERAbeginning its upward price climb as the number of homes on the market falls. The University of Hawaii’s Economic Research Organization charts following the average sale prices since 1980 indicate 8 to 11-year periods or cycles between the high points and low points of market activity and value. They saw our low point in the 2nd quarter of 2009 and their data since indicates definite rise in values. Please note that these are statewide reports. The Big Island markets in general (Hualalai Resort and Kukio live in their own worlds) tend to lag behind Oahu but as this Waikoloa Village Report clearly shows; we are in about the third year of recovery. Given the length of previous Real Estate cycles, can we expect another bubble in 2017? Maybe…who knows what forces will affect the pace of recovery but at this point, a healthy market is upon us.

Looking at the Waikoloa Residential market we see a small first quarter average sale price drop of 3.3% from the 4th quarter of 2012. This small decrease in the 1st quarter 2013 low can be attributed to the short sales entered into escrow many months before in 2012 finally closing. Short Sales usually endure long closing periods while negotiations go on between the lender and the borrower/seller. One short sale opened escrow last July 5th but did not close until March 15th of this year at $250,000. This price reflected an earlier market. Yet the 2013 1st quarter bottom price of $224,900 was a pretty awesome 27% higher than the low 2012 first quarter price of $175,000.

The 2013 1st quarter average price of $335,369 was 21.6% higher than the 1st quarter 2012 average price of $275,732. We also saw a decrease in number of sales given the decreased inventory at the end of 2012. At the same time we had the highest sale in over 6-months at $620,000. This is a 28% increase over the 2012 1st quarter high sale of $445,000.

So if that wasn’t exciting enough; the second quarter was crazy!! We not oWaikoloa Village Moonrise May 23 2013 (1)nly saw significant changes comparing 2nd quarters of each year but also when comparing the first to the second quarter of this year. The lowest price rose 8% quarter to quarter, from $224,900 to $243,000 but an amazing 37% year to year. (Q2 2012 low price was $177,000). But it gets better when we compare the highest priced sale; a 45% gain over the same quarter of 2012 ($440,000 in 2012 vs. $640,000 in 2013) and a minor 3.3% increase over the 1st quarter high price of $620,000. We see the number of sales in this range increasing with the market prices. People who were not distressed could afford to wait for a better market to move. It got better and they moved. They increasing quality of homes entering the market indicates they are still moving!! There were 4-sales over $400,000 in the 1st quarter of 2013 but 11-sales over $400,000 the 2nd quarter. Compare this to 2-sales over $400,000 in the 1st quarter of 2012 and 3-sales the following quarter of 2012. Above Waikoloa May 2013 (18)

The number of distressed sales dropped significantly compared to the number of short sales in the 1st quarter of 2012; 11 distressed sales in the first quarter of 2012 down to only six selling the 1st quarter of 2013. We still see some a few homes around the village in various stages of neglect that for some reason are not being brought to market by their Lender owners. However, lenders prefer to sell at the low end of the market once they decide to sell. Not at this time expecting to see these depreciate the market once they are available.

The inventory of homes on the market is at its lowest in 10-years at least. We began this week with 28-homes for sale in Waikoloa but 4-homes were just listed  to bring us up to a total of 32. There are 23-homes under contract to sell. From January 1st of this year we saw 48 homes sell. This translates to a less than 4-month supply of homes on the market. Low inventory levels put pressure on prices to move them up at a steady pace. If the trend continues we may see quarterly appreciation of approximately 4%. Trends can never be guaranteed given the influence of so many outside factors , (famous disclaimer “past performance is not necessarily indicative of future performance”) but things are definitely looking bright in the Waikoloa Residential market. Click here to see the report covering the current state of the Waikoloa Residential real estate market.Waikoloa Village Pool

The Waikoloa Village condo and land market analysis is under way and should be in your mailbox soon. Please call or email if you thinking it might be the time to buy (interest rates still low, prices going up) or sell or just to talk about the market. As always, stay well; take care and a hui hou!

Waikoloa Village Real Estate Market Report   Leave a comment

The sweet sound of recent Waikoloa rains is truly welcome music! The last 90-days have seen the sale of 20-homes from a low of $255,000 to a high of $535,000. With only 38 homes on the market, this equates to a less than 6-month supply of homes. The fact that only 8 homes are listed as distressed or bank owned indicates that stability may be returning to the market place. The average price has increased 9%, from $290,962 to $317,900 although number of sales dropped slightly from the 26 sales of the previous 90-day period. 31-homes in escrow is also a sign of good market activity. Having a few higher priced homes is escrow is encouraging even if they are brand new Sunset Ridge homes which should be closing within the next 4 to 6-weeks.

While 25 of these homes claim to have some ocean view (market report covering ocean view homes), the quality of the view varies. Views from narrow corridors obstructed by landscaping and roof tops, perhaps the view is only visible from a far corner of the back yard to wide expansive views such as at this brand new house on Hai’a St. or this spectacular home on Kaupapa Place We just saw a sale of a home with an excellent view close at $535,000, making the home on Hai’a all the more attractive priced at $439,000. The sales price of $535,000 on a 1,574 home built in 2007 proves the value of a view. The price paid by the seller when new was over $700,000. Whether financially or emotionally, this seller probably felt distressed.

Land Sales really perked up over the last 90-days with 17 total sales compared to 4-sales in the previous 90-day period. As you can see from this report, many were only on the market a very short time although some that were on the market for what seems forever finally sold. The 7-lots on the market now mostly have been on the market some time with the exception of one listed only today on Auhili Loop and the one on Hai’a St. that’s been for listed about 25-days. The Hai’a Street lot has the best view potential, is fairly level and easy to build on . The Auhili lot is also very level, no views but located near Waikoloa Park which is a plus for families with children! The average price of the previous 90-days is higher at $101,700 compared to the present average of $74,176. This may not mean as much it sounds given that one the four sales in the previous 90-day period closed at $200,000. It was an acre with great views. The range in lot sales price this last 90-day period lowers the average as none were as large nor sold for as much.

Waikoloa Condo sales remained fairly stable between the two last 90-day reporting periods. There were 16 sales this last period compared to 17 the period before. Sales ranged from a low price of $71,000 in Fairway Terrace for a 1-bedroom to an absolutely gorgeous, well furnished 2-bedroom plus loft condo at the Pointe at Waikoloa with fabulous views as the highest sale at $512,000. The high sale is welcome, but none of the other sales closed above $300,000. Expect to see an increase in volume here too with these low interest rates encouraging purchases.

Recent reports identified almost the same rate of increase in Oahu home sale prices. This is always a good sign as the rest of the islands follow Oahu market trends in a general sense. It’s interesting to note that a few months ago, average Oahu home prices dropped to the lowest level in many years. It may be safe to say that Hawaii Real Estate prices may have bottomed out. The flat line at the bottom of the curve is beginning to head north. Buyers are still in good shape because the low interest rates offsets the effect of price increases. Another interesting note is that usually in an election year, activity slows until after the election. But not this time.

Would love to hear from you about your Real Estate plans.  Until then, live aloha and a hui hou.

Featured Listing: 068 Haia Street, Waikoloa $389,000

UNDER CONSTRUCTION

MLS# 251404 | 3 Bedroom | 2 Bathroom | 1,578 sf

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You have to see this brand new home under construction with the estimated completion date of April 30, 2012.  It will be a home with ocean views, three bedrooms, two baths and landscaping.  High grade finishes and materials in a custom design perfectly incorporate all the elements you dreamt of in your new island home.  Waikoloa Village home owners enjoy all the amenities of this planned community; golf, pool and tennis for only $584 a year (2012 annual dues).  They also enjoy the convenience of the Highlands Shopping Center with its grocery store, banks, healthcare, and restaurants and more all within sight of the coastal resorts with their beautiful beaches and amenities!

Contact me for further details on this listing.

Featured Listing: 68-3572 Haia Street, Waikoloa $439,000

UNDER CONSTRUCTION

MLS# 251405 | 3 Bedroom | 2 Bathroom | 1,652 sf

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Brand new home under construction now in Waikoloa Village.  This 3-bedroom, 2-Bath home will be delivered fully trimmed out in quality finishes and elements.  Low maintenance landscaping included. Add postcard perfect Kohala coast views and call it home!
Waikoloa Village home owners enjoy all the amenities of this planned community; golf, pool and tennis for only $584 a year (2012 annual dues).  They also enjoy the convenience of the Highlands Shopping Center with its grocery store, banks, healthcare, and restaurants and more. All this within sight of the coastal resorts with their beautiful beaches and amenities!

Contact me for further details on this listing.