6 West Hawaii Real Estate | November 9, 2016 MLS Statistics Kona home and condo sales Home prices show steady increase The residential price trend in North Kona continues to show a year over year increase of 5 percent. There has been a steady increase in price since 2012 as shown in Chart 1. “This market is attractive to buyers because interest rates are low and there is an ever changing adequate supply of homes for sale,” said Michael B. Griggs, Clark Realty Corporation broker. “For sellers, there is a brisk turn over of properly priced homes and the steady increase in prices.” Looking at the islandwide Residential Average Prices, the greatest price increase is in West Hawaii. This is driven by the significant improvement in sales in the over $900,000 price ranges, according to Griggs. A $4 million price cap is used in the sales price data. The greatest improvement in the number of sold is in East Hawaii. “Affordability is probably the driving factor,” Griggs said. The North Kona condo market has recently displayed an improving trend. The number of condos for sale has been declining and escrow activity has increased. This data is available in the full Griggs Report. “The increased escrow activity should improve the number 83 acres of great mixeduse project property. Ocean Views, Zoned MG-3A, commercial- Industrial. This is absolutely North Kona’s BEST Commercial Opportunity! Unique beach cottage with unobstructed ocean views! House sits directly across Ali‘i Dr. from Kahalu’u Beach and iconic St. Peter’s Church. This beach gem is recently remodeled with NEW roof, paint, water heater, 200 amp electric panel, stove, fridge & washer/dryer. KAHAKAI ESTATES 3/2.5 w/Pool. NEW: Granite, Tiger hardwood, Carpet, Travertine, Paint, Ovens & Cooktop. 33,000+ sq. ft. lot has peek ocean views. Spacious rooms with walk in closets. 3 acre park + close to beaches & town Island living at its best! Recently updated 4 bedroom exquisitely appointed architecture with resort quality features. Wellthought that allows separate living areas or combined quarters to accommodate an entire household. 78-6831 ALII DR. STE. 163, KAILUA-KONA HI 96740 Each Offi ce is Independently Owned and Operated. 2/2 condo has golf course Views and 2 lanais. 3 pools, spa, tennis courts, guard gated, walking trails. Walk to Keauhou Bay, best beaches, shopping and entertainment. Great Opportunity. KANALOA AT KONA OCEAN FRONT 3/2 condo with spectacular ocean views! 3 pools and spa, tennis courts, guard gated, walking trails. Walking distance to Keauhou Bay, best beaches, shopping and entertainment. Located nearly on the golf course. Life is good at Kanaloa! MLS# 296367 $920,000 John Miller Vice President, R(s) & Pam Miller, Broker John@LiveInKona.com | 808 315-5501 Pam@LiveInKona.com | 808 936-9997 KAHALUU BEACH LOTS DIRECT OCEAN VIEWS MLS# 299512 $749,900 IN ESCROW KANALOA AT KONA GOLF COURSE VIEW MLS# 297117 $435,000 IN ESCROW O‘OMA 83 ACRES QUEEN K FRONTAGE MLS# 269612 $15,000,000 KE ALOHI KAI PINEAPPLE HALE 4.5 bath estate has out fl oorplan MLS# 299544 $1,790,000 NEW LISTING PEEK OCEAN VIEWS MLS# 295600 $759,000 SOLD of sales,” said Griggs. “The actual recent price trend has leveled off, but this may change with the improvement in escrow/sales activity.” “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,” he said. 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)
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