6 West Hawaii Real Estate | November 10, 2017 MLS Statistics 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 19% from the previous 12 months, with 515 sales. This is the first time since the recovery began that the number has topped 500. The Median Price is at a new recovery high at $625,000. This is just slightly below the 2006 peak price of $635,000. The island wide Residential Sales data shows the West Hawaii average price is lower than last October 31st while East Hawaii shows Average Price gain of +7%. It is likely that affordability is the prime factor in East Hawaii’s strong numbers. The North Kona Condo market data shows strong sales numbers, up 23% from last year. Unlike Residential, the current Median Price is well below the 2006 peak price of $415,000. 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 Homes Sold in Past 12 Months vs. Median Price (thousands) North Kona Condominiums Sold in Past 12 Months vs. Median Sale Price (thousands) Elevated & Stylish - Waikoloa Offered at $559,000 FS Gardener Oasis - N. Kona Offered at $578,000 FS EXPERTS IN THEIR FIELD OF STUDY: In Escrow In Escrow MLS 609306 / 3BR 2BA 2,156 on 13,770 SQ. FT. Cathy Klarin RS-62138 / 808.557.9727 MLS 609170 / 3BR 2BA 1,464 on 10,847 SQ. FT. Bill Babbitt RB-20862 / 808.430.9411 – Doctor –Lawyer –CPA Green Belt Dream - Waikoloa Offered at $689,000 Entertaining Center - Waikoloa Offered at $625,000 MLS 608678 / 3BR 3BA 2,681 on 17,425 SQ. FT. Saul Brecher RS-73103 / 808.990.2727 MLS 611560 / 4BR 3BA 2,054 on 11,245 SQ. FT. Ken Anderson RB-19420 / 808.896.7570 –Our Sales Team Questions? We Can Help. You Deserve the Distinct Experience Our Agents O er. Visit us 7 days a week in Waikoloa Beach Resort. Waikoloa Beach O ce 808-883-3321 QUEENS’ MARKETPLACE Suite E5 Each o ce is independently owned & operated Contact Broker in Charge Bill Babbitt RB-20862 For More Photos, Listings And Maps, Go To WWW.WAIKOLOA.HAWAIIMOVES.COM RB-17263 North Kona 10/31/06 10/31/07 10/31/08 10/31/09 10/31/10 10/31/11 10/31/12 10/31/13 10/31/14 10/31/15 10/31/16 10/15/17 Percentage
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