090117REM_R06

REM090117

6 West Hawaii Real Estate | September 1, 2017 MLS Statistics Sales and inventory trends Housing Kona Houses Listed Under $1 Million - Inventory 180 160 140 120 100 80 60 40 20 0 Jan Feb Mar Apr May June Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Jan Feb W E • 2 Brand New Custom Homes • Ocean and Coastline Views • Top of the Subdivision • End of Cul-de-sac • Contemporary Finishes • Fully Landscaped/Auto Irrigation 73-1217 Onehanau Place Offered at $849,000 • 4 Bedroom / 2.5 Bath • 2,342 sf Living Area • 18,555 sf Land Area • MLS 609029 73-1218 Onehanau Place Offered at $759,000 • 3 Bedroom / 2 Bath • 1,633 sf Living Area • 15,507 sf Land Area • MLS 610037 Starr Todd RS-69717 808.640.1893 Maggie Murphy RB-20049 808.557.1275 Hawaiian Isle Real Estate, LLC 808-327-1155 RB-19005 2016 2017 100 90 80 70 60 50 40 30 20 10 0 Market Tightens as Supply Dwindles The housing market in Kona has been very strong in 2017. The recent substantial drop in inventory is following a mainland trend that is pushing up home prices in both areas. The available inventory listed under $1 million at the end of July was fewer than 120 houses of any shape, size, fee simple or leasehold. As of this writing there, are only 18 available under $500,000. Wow! The pending sales have stayed strong through the summer but did drop in July, and I think that is more a factor of a short supply of available inventory. The coconut wireless is buzzing with stories of buyers who wrote an offer only to find out the seller had just accepted another one. There was one buyer who experienced that with multiple properties. One of my buyers recently had to wedge their way into an ongoing negotiation for a house and offer almost full price and few contingencies to steal it away. Sales were still running strong at 40 in July, but will most likely drop off for August since pending sales are lower. If you want to buy in Kona, don’t delay. Get pre-approved with a quality lender and begin your house hunting now before this low inventory creates even more price increases. These graphs are presented by Gretchen Osgood, broker and owner of Hawaiian Isle Real Estate. To view more graphs or subscribe to a Kona real estate newsletter, visit HawaiiRealEstateDreams.com. Kona Condos Listed Under $1 Million – Inventory


REM090117
To see the actual publication please follow the link above