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6 West Hawaii Real Estate | April 26, 2017 MLS Statistics Sales and inventory trends North Kona prices continue to rise, East Hawaii sees biggest price increase Over the past year, the residential prices in North Kona have continued to increase 4-5 percent. “This amount of price growth seems to be ideal for sustaining sales numbers,” said Michael B. Griggs, Clark Realty Corporation broker. “The pace has picked up in 2017 with increased sales and declining in inventory,” he said. The Price Range table shows a notable shift to sales in the higher price ranges. Sales in the lower price levels continue to shrink. The April 15 Griggs Report shows only 10 homes in Kona priced under $500,000. The island-wide residential sales numbers and price data indicate the greatest price increase is in East Hawaii. The East Hawaii market has the greatest increase in number sold. Affordability and improved economy are driving a strong market in East Hawaii. “The North Kona condo market is also doing very well compared to the previous years performance,” said Griggs. Inventory is down 34 percent. The number of condos sold and the median sale show a healthy 8 percent increase. “Historically, sales data shows that in market cycles in Kona the previous peak prices are surpassed by a substantial amount at the next cycles peak,” noted Griggs. “The Residential and Condo Price Charts show current prices are below their previous peaks. This suggests it is likely the current price growth trends will continue,” he said. Vacant Land Loans cŅŞŅĜĹƋŸƵĜƋĘƚŞƋŅƀĂŢĀűĹÏĜĹčúÃà $QQXDO3HUFHQWDJH5DWH:LOOORDQXSWRRIWKHDSSUDLVHGYDOXHRUVDOHVSULFHZKLFKHYHULVOHVV7KUHHDQG¿YH\HDUWHUPVDYDLODEOH $¿QDOEDOORRQSD\PHQWLVGXHDWWKHHQGRIWKHWHUP0RQWKO\SD\PHQWLVFDOFXODWHGXVLQJD\HDUDPRUWLDWLRQ$OOORDQVDUHVXEMHFWWR FUHGLWDSSURYDO5DWHVDQGWHUPVZLOOEHGHWHUPLQHGEDVHGRQLQGLYLGXDOFUHGLWZRUWKLQHVV0DLPXPORDQDPRXQWIRUSURSHUWLHVORFDWHGLQ /DYD+DDUG=RQHVDQGXSWR0XVWEH\HDUVRIDJHWRTXDOLI\IRUDORDQ0XVWEHDPHPEHUWRSDUWLFLSDWH 5HY )HGHUDOO\LQVXUHGE\1&8$ 930-7700 hicommfcu.com 5.25% e{à With rates as low as: 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 4/15/07 4/15/08 4/15/09 4/15/10 4/15/11 4/15/12 4/15/13 4/15/14 4/15/15 4/15/16 4/15/17 Percentage


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