6 West Hawaii Real Estate | December 8, 2017 MLS Statistics The North Kona Residential market data from the Griggs Report continues to show the strength of the 2017 market. Chart 1 illustrates how strong 2017 sales numbers have been compared to the previous two years. At the same time we see Median Sale Price also showing a strong increase at +8%. The last market peak was in 2006. Current prices are still below that peak price. You can see in the Price Range table that sales in the over $500,000 price ranges far outpace those below $500,000. The data suggest this pattern is likely to continue causing continued increase. The Island 12 Month Sales Data shows Residential Sales Numbers and Average Prices are up islandwide. The more affordable East Hawaii market is showing the greatest price increase. Chart 2 - North Kona Condo data clearly shows the steep increase in sales numbers in 2017 compared to the previous 6 years. Median Price increase continues at a very sustainable pace of +4%. The median price is well below the 2006 Peak price of $ 412,500. This suggests there is considerable price upside yet to play out in the condo market. 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. Waikoloa Beach Resort Offi ce 808-883-3321 QUEEN’S MARKETPLACE Suite E5 WAIKOLOA QUINTESSENTIAL WAIKOLOA VILLAGE Space for storage, work & play. Renee Higgins, RS-73935 808-895-5971 $549,000 MLS#612834 ENTERTAINING HUB WAIKOLOA VILLAGE Spacious with variety & privacy. John Balaam, RB-17273 808-887-1888 $715,000 MLS#612121 GREEN BELT DREAM WAIKOLOA VILLAGE Permanent unobstructed views. Saul Brecher, RS-73103 808-990-2727 $689,000 MLS#608678 COLLECTIBLE ESCAPE KOHALA RANCH Desirable Lucky Bennett design. John Balaam, RB-17273 808-887-1888 $3,600,000 MLS#612900 In-Escrow LUXE GOLF HIATUS MAUNA LANI RESORT Park-like setting - luxe details. Leanna Flem, RS-61159 808-895-3157 $749,000 MLS#611224 GOLF & KAI STUNNER WAIKOLOA BEACH You’ve arrived, why leave? Hali’i Kai. Daryl Flem, RB-18622 808-895-3158 $1,200,000 MLS#608453 Market Listings: CHProperties.com Call for a showing of these distinguished properties or visit us! Open every day in Waikoloa Beach Resort. Additional RB-22402 New Listing Chart 1 - North Kona Homes Sold in Past 12 Months vs. Median Price (thousands) Chart 2 - North Kona Condominiums Sold in Past 12 Months vs. Median Sale Price (thousands) North Kona 11/30/06 11/30/07 11/30/08 11/30/09 11/30/10 11/30/11 11/30/12 11/30/13 11/30/14 11/30/15 11/30/16 11/30/17 Percentage
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