NEW LISTING NEW PRICE WHITE SANDS TERRACE Newer Custom Quality home – easy walk to White Sands Beach. 4Bed/4Bath w/ocean views. Downstairs separate entry. Boat Parking. Oversized Garage w/workshop. MLS#297010 • $799,900 REDUCED POOL WHITE SANDS TERRACE Legal Ohana—5 Bed/ 4 Baths with 15’ x 35’ pool, walk to White Sands Beach. Owned Photovoltaic System. Well Maintained Vacation Rental. MLS #294944 • $958,000 IN ESCROW OCEANFRONT ALII DRIVE – OCEANFRONT 3 SIDE-BY-SIDE OCEANFRONT LOTS - Build 3 separate homes! Beautiful park-like setting. MLS #282351 • $2,900,000 KONA PLAZA #113 Charming 2B/2B condo with no stairs - in heart of Kona. Featuring all tile fl oors, turnkey furnished, stainless steel appliances. Salt Water Pool. Ready for long term or vacation rental. MLS #602247 • $229,000 KONA PLAZA #305 Downtown 2Bed/2Bath condo in the heart of Kona, Walk to shops,restaurantss, beach & pier. Ocean views, Elevator, Secure parking. Vacation rentals - Pets MLS #299113 • $259,000 SOLD BEACH VILLAS AT KAHALUU BEACH 1-202 Best Ocean Views in Complex. Turnkey fi nished vacation rental in one of Kona’s newest complexes. Central Air, beautiful Pool & Spa. MLS#600901 • $519,000 KAPA‘AU COMMERCIAL COMMERCIAL BUILDING & 2 HOMES REDUCED to SELL Highway Frontage Parcel Zoned CV-l0 plus two 2 Bed/l Bath Plantation Homes. MLS#280687 • $599,000 KONA WONDER VIEW Comfortable 2-story Home located in upper section of subd. 3Bed/2 Bath upstairs w/spacious lanai with some ocean views. 2 Bed/ l Bath Downstairs for guests. Recently painted exterior. Motivated. MLS#297399 • $459,000 Linda Bradley Realtor/Broker RB-15020 Certifi ed Residential Specialist 75-5905 Walua Road, Ste 9 Kailua-Kona, HI 96740 Linda@ElitePacifi c.com 808-896-1579 Serving Kona since 1985 6 West Hawaii Real Estate | January 4, 2017 MLS Statistics Kona home and condo sales Market favorable to buyers and sellers The residential price trend in North Kona continues to show a year-over-year 5 percent increase. As shown Chart 1, we have seen this steady increase in price since 2011. “This market is attractive to buyers because prices have held fairly level and there is a consistent steady supply,” said Michael B. Griggs, Clark Realty Corporation broker. “For sellers, there is a brisk turnover of well priced homes and prices continue to increase in the seller’s favor.” The Price Range table shows a 53 percent increase in sales in the over $4 million price range. Most of this activity is in the Kukio and Hualalai Resort areas. Many of the lots that sold at bargain prices just a few years ago are now being built on, said Griggs. “This bodes well for the West Hawaii economy.” There was also a nice 29 percent increase in sales in the $900,000 to $1.5 million price range. Islandwide residential average prices indicate the greatest price increase is in West Hawaii. This is driven by the significant improvement in sales in the over $900,000 price ranges. East Hawaii actually has the most active market as reflected in the increased number of homes sold. Affordability is driving that market, as well as improvement in the local economy, according to Griggs. The North Kona condo market has recently displayed an improving trend. The number of condos sold continues an increasing trend as seen in Chart 2. The year-over-year price increase is a strong 7 percent. Condo median price is still well below the 2006 peak price of $405,000. “If you look at the historical prices in the residential and condo charts you see that 2006 prices are still well above current levels suggesting that price still has a great deal of upside if historical cyclical trends hold true as they have since the 1970s,” said Griggs. 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 12/15/06 12/15/07 12/15/08 12/15/09 12/15/10 12/15/11 12/15/12 12/15/13 12/15/14 12/15/15 12/15/16 Percentage
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