6 West Hawaii Real Estate | September 15, 2017 MLS Statistics Kona market expected to appreciate 6-7% The North Kona Residential market data from the Griggs Report COLDWELL BANKER MARYL REALTY 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 KONA PALISADES HOME - AWAKEA ST. 3 bedroom/2 bath well-maintained home is spacious & bright with lots of windows to let in natural light & awesome ocean views. Rock walls surround the property & there’s an extra-large driveway. Linda Swanson RB-18865 (808) 987-8021 $569,000 609580 KEAUHOU GARDENS CONDO Spacious 2 bedroom / 2 bath Kona Coast Resort luxury condo nestled between the golf course & the ocean. Just a short walk to theater, shopping & dining. Enclosed, private garage. Buddy Norwood, RB-11909 (808) 896-0144 $499,000 609359 KOLEA FARM 7.8 acres with coastline views, Kona coffee trees and tons of fruit trees. 2 bed/1 bath home in gated community. Kona Carla Womack, RS-61019 (808) 896-6768 $749,900 294529 KALOKO MAUKA Peaceful retreat with unlimited privacy at cool 4800 ft of elevation among Ohia forests, Well-built, elegant, cozy home with over 2600 sq ft, 2 bedrooms/2.5 baths, in the main home, and a 2 bedroom cabin for guests. Dylan Nonaka, RS-64242 (808) 937-8382 $1,590,000 610075 11.7 ACRE KONA COFFEE FARM Kealakekua Bay views from this 7 bedroom/3 bath home with over 8 acres of mature, irrigated Kona coffee trees. Located at the end of the road - private and gated property. Kona Carla Womack, RS-61019 (808) 896-6768 $1,975,000 604910 WAIPUNALE HOMESTEADS Rarely available oceanfront property. Over 9.5 acres overlooking Laupahoehoe Point - build the home of your dreams! Bob Hudspeth, RS-55464 (808) 896-3066 $999,999 601338 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 • Maryl@Maryl.com KALOKO MAUKA - 5 ACRES Beautiful, lush acreage with ocean views. Private, native Ohia forest-land borders state land for your own private estate. This is one of the best Kaloko lots. Kona Carla Womack, RS-61019 (808) 896-6768 $399,900 605639 FEATURED AGENT Andrew Nonaka RS-79663 Cell (808) 938-6055 Andrew@BuyBigIsland.com Call Andrew for all your Big Island real estate needs! KONA VIEW ESTATES 3 bedrooms/3.5 bath luxury home with 180 degree panoramic ocean views. Hawaiiana living at its best! Karen Ostlie, RS-60256 (808) 937-1174 $1,998,000 603614 continues to show the strength of the 2017 market. The number of homes sold in the under $4.0M price range is up 9% 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 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% increase in annual sales. This strong demand and declining supply has pushed prices higher. The median price is up +7% 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 cycles 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 8/31/07 8/31/08 8/31/09 8/31/10 8/31/11 8/31/12 8/31/13 8/31/14 8/31/15 8/31/16 8/31/17 Percentage
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