6 West Hawaii Real Estate | January 18, 2017 MLS Statistics A history of home and condo sales 700 600 500 400 300 200 100 North Kona Condo Sales - 1992 thru December 2016 HAwaii’s upscale REAL ESTATE Experts Surf H& oralcuqauleot a#5-104 Single level on 1.4 aces with Ocean views. All Koa interior, Guest quarters, 4 BR 3 Bath. Vintage Hawaiian home built in 1953. Great condition. 1,970 Sq.Ft. MLS# 601510 Robert Wilkinson, R(B) 808.987.6774 ROBERTWILKINSON@ELITEPACIFIC.COM ROBERT.ALLBIGISLANDPROPERTY.COM 27 YEARS OF EXPERIENCE 75-5905 WALUA RD., STE. 9 KAILUA-KONA, HI 96740 4-Acre Estate Private Ocean view gated estate with Pool. Beautiful usable pasture land, Guest quarters. Close to everything, yet very private. No CC&R’s. MLS#600254 10-Acre Estate Spectacular property with 3 separate Houses and unlimited Coastline views. Custom built with exceptional quality. 9500+ Sq.Ft. MLS# 294819 keauhou estates Custom 4 Br 3. 5 Bath Ocean views Pool Spa, Hardwood floors, Spectacular architecture PV solar, smart house, 3 car garage. Built in 2012 Excellent condition 5-zone AC Must see! 3517 Sq. Ft. $ 1,688,000 iolANI Custom 4 Br 2.5 Bath Spectacular Ocean & Coastline views. Single level with pool and spa, Wood fl oors, PV Solar Perfect Tropical landscaping All wood flooring. African Mahogany accents. Excellent conditions inside and out! 2814 Sq. Ft. MLS# 298906 Ocean Front single level 2 BR 2 Bath End Unit with sweeping Ocean and Golf course views! Fully updated and excellent Vacation rental income! Must see! MLS# 297402 $749,900 $859,000 KEAUHOU ESTATES Va l u e p r i c e d 3 B R 2 Bath Single level Ocean v iew home. Located in prestigious Keauhou Estates Subdivision. Built in 2006 2312 Sq.Ft. MLS# 600769 kona by the sea #408 Top floor! Updated direct ocean front in desirable South end of complex. 2 BR 2 Full baths Granite counters Elevator and covered parking MLS #296544 Kona By The Sea #308 Fantastic Ocean Front upper floor beautifully updated with amazing views 2BR 2 Bath 1296 Sq.Ft. Central AC, Elevator, Covered parking MLS #296216 Kona By The Sea #312 Top floor, direct ocean front, 2-BR 2-full bath. Beautifully updated and fully furnished. Elevator, covered parking, must see! 1296 Sq Ft. MLS# 602456 kona by the sea #115 Value priced 2 BR 2 Bath Spacious light and bright end unit with fresh paint and new tropical furnishings throughout. Nice ocean views from your large lanai. Beautiful views from the living room of mountains from this end units windows. 1282 Sq. Ft. MLS# 299678 Kona Isle E-31 NEW LISTING Ocean Front end unit top fl oor. Best location in complex! Fully updated and furnished! Spectacular views! 1-BR 1-Bath MLS# 602749 IN ESCROW $4,295,000 $1,749,950 $1,529,000 $839,000 $635,950 $629,000 $645,000 $519,000 $459,000 kona nalu #105 Direct Ocean Front Luxury condo. 2 BR 2 Full Baths. Central air. Designer furnishings. End Unit! Absolute Ocean front. Beautiful! 1208 Sq. Ft .MLS# 601950 $748,888 NEW LISTING 0 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Sold Prices might be holding sales back House and condo sales both surpassed last year by a few sales but as the graphs illustrate, they are still well below the previous peak in transaction volume. Sales have increased substantially since 2008-09, but there is a lot of room left for more sales in Kona when compared to previous year highs, said Gretchen Osgood, broker and owner of Hawaiian Isle Real Estate. Osgood asked, “What might be holding us back? I think it is our price point as it compares to 2004.” In 2004, 606 houses sold under $1 million, compared to the 83 sales over $1 million. The average price for homes under $1 million was $504,225. The same statistics for 2016 were 386 sales under $1 million and 92 sales over $1 million. The average sales price for under $1 million was $585,567. So, in 2016 the average sales price was higher than in 2004 by roughly 14 percent and back in 2004, the average days on market was 48, compared to 82 today. “Houses were flying off the shelf as fast as they came on the market back then,” said Osgood. The condo market tells a similar story. In 2004, there were 612 condos listed under $1 million and they sold in an average of 39 days for an average price of $308,889. Only three condos sold that were listed over $1 million. In 2016, we sold 396 condos total and 27 of those were listed over $1 million, a huge increase in 12 years for over $1 million condos. The average sales price listed under $1 million in 2016 was $302,532 with 85 days on the market. So the average price of condos is almost as high now as it was in 2004, but they are taking twice as long to sell. Also, there were almost nine times as many condos offered over $1 million, with most those out at the luxury resorts of Kohanaiki, Hualalai Resort and Kukio. “It will be interesting to see if our market can move towards the high transaction volumes of years past as we begin 2017,” said Osgood. North Kona Condo Sales - 1992 thru December 2016
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