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6 West Hawaii Real Estate | August 18, 2017 MLS Statistics Sales and inventory trends North Kona market remains on fire The North Kona residential market data from the Griggs Report continues to show the strength of the 2017 market. The number of homes sold in the under $4 million price range is up 9 percent from the previous 12 months. The increased sales activity has caused a steep decline in inventory. The median sales price now stands at $620,000. Affordable housing has become a rare commodity. The reason the median price has climbed so high is simply due to the lack of sales in the under $500,000 price range. There were 19 fewer homes sold in 2017 due to lack of inventory. There are currently COLDWELL BANKER MARYL REALTY PRICE REDUCED! Kailua Kona • Queen Ka‘ahumanu & Henry St. #203 Offi ce # (808) 331-8200 /Toll-Free # (800) 845-7559 View Current Listings at ColdwellBankerMaryl.com Offi ce License # RB-16961 CUSTOM-BUILT KONA ACRES HOME 2 bedroom / 3 bath in a 2,032 square foot home offers privacy on over 1 full acre of land. Beautiful views of the ocean & Kona sunsets. Solar heated pool & photovoltaic system. Dylan Nonaka RS-64242 (808) 937-8382 $739,000 608267 CASA DE EMDEKO 1 bedroom / 1 bath, top-floor condo with ocean & sunset views, oceanfront amenities, turn-key, furnished. Freshly painted, ceiling fans, A/C. Pool & BBQ area. Kona Carla Womack, RS-61019 (808) 896-6768 $195,000 606162 ALII VILLAS 1 bedroom / 1 bath ocean-view condo with an open floor-plan and a large lanai. Complex is well-maintained and has a nice pool and BBQ area. Sold turn-key, furnished. Move right in! Karen Ostlie, RS-60256 (808) 937-1174 $310,000 605973 MALULANI GARDENS Single-level 2 bedroom / 2 bath home in desirable Malulani Gardens. Gated community, conveniently located close to town. Enoy ocean views from the lanai. Kendall DiDonato, RS-74803 (808) 345-5212 $549,000 608545 UPSCALE KAOHE RANCH ESTATES Spacious 3 bedroom / 2.5 bath, new plantation home on 5+ acres. Single-level with 2 car garage. Ocean, sunset views in country setting - potential coffee farm. Kona Carla Womack, RS-61019 (808) 896-6768 $699,950 608028 KAOHE ROAD, KONA PARADISE Tropical “farmette” on almost 1/2 acre. Charming and private 2 bedroom/ 1 bath home surrounded by countless fruit trees and tropical plants. 5 minutes to the beach. Kona Carla Womack, RS-61019 (808) 896-6768 $399,900 604924 • Maryl@Maryl.com KONA VIEW ESTATES 3 bedroom/ 3.5 bath luxury home with 180 degree panoramic ocean views. Hawaiiana living at its best! Contact Karen to schedule a showing. Karen Ostlie, RS-60256 (808) 937-1174 $1,998,000 603614 WAIPUNALE HOMESTEADS Rarely available oceanfront property. Over 9.5 acres overlooking Laupahoehoe Point - build the home of your dreams! Contact Bob for additional information. Bob Hudspeth, RS-55464 (808) 896-3066 $999,999 601338 FEATURED AGENT Robert Hudspeth RS-55464 Cell (808) 896-3066 KohalaBob@yahoo.com Contact Bob for all your Big Island real estate needs! KONA SUNSHINE LUXURY HOME 5 bedroom / 4 bath modern custom-designed home in the Kona Sunshine subdivision, a private enclave of homes above Kailua- Kona. Gorgeous ocean views from this amazing luxury home. Buddy Norwood, RB-11909 (808) 896-0144 $2,385,000 602719 14 home for sale in North Kona price below $500,000. Correspondently, sales in the over $500,000 price ranges increased by 57. The islandwide residential sales numbers and prices are up. East Hawaii has the strongest price increase and the greatest increase in sales. Affordability is the driving force behind the strong East Hawaii numbers. The East Hawaii average 12-month sale price is $289,900, while the West Hawaii average sale price is $854,800. The North Kona condo market data shows a significant decline in inventory from 208 units on the market in 2016 to only 148 this year. This is a reflection of the 29 percent increase in annual sales. The strong demand and declining supply have pushed prices higher. The median price is up 7 percent from a year ago. Historically, sales data shows that in market cycles in Kona the previous peak prices are surpassed by a substantial amount at the next market cycle’s peak. The residential and condo price charts show current prices are below their previous peaks. This suggests it is possible the current price growth trends will continue for the next several years. North Kona Residential # Sold In Past 12 Months vs. Median Sale Price (thousands) North Kona Condominium # Sold In Past 12 Months vs. Median Sale Price (thousands) North Kona 7/31/07 7/31/08 7/31/09 7/31/10 7/31/11 7/31/12 7/31/13 7/31/14 7/31/15 7/31/16 7/31/17 Percentage


REM072117
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