6 West Hawaii Real Estate | February 2, 2018 MLS Statistics The North Kona Residential market data from the Griggs Report continues on an upward trend. The number of homes sold in the last 12 months is up substantially from the previous 12 months. The result of the strong sales activity is a dwindling supply of homes for sale. The strong demand and shrinking supply will continue to drive prices higher. You can see in the Price Range table that the greatest increase in sales is in the $500,000 to $900,000 price ranges with 59 more homes sold than in the previous 12 month period. The under $500,000 price ranges shows the greatest decline due to lack of inventory. Currently there are only 7 homes listed for sale in N. Kona under $500,000. The Island 12 Month Sales Data shows Residential Sales Numbers and Average Prices are up island wide. 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. Median Price increase continues at a very sustainable pace of +4%. 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. 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 1/15/06 1/15/07 1/15/08 1/15/09 1/15/10 1/15/11 1/15/12 1/15/13 1/15/14 1/15/15 1/15/16 1/15/17 1/15/18 Percentage Vacant Land Loans 5.25% e{à With rates as low as: cŅŞŅĜĹƋŸƵĜƋĘƚŞƋŅƀĂŢĀűĹÏĜĹčúÃà $QQXDO3HUFHQWDJH5DWH:LOOORDQXSWRRIWKHDSSUDLVHGYDOXHRUVDOHVSULFHZKLFKHYHULVOHVV7KUHHDQG¿YH\HDUWHUPV DYDLODEOH$¿QDOEDOORRQSD\PHQWLVGXHDWWKHHQGRIWKHWHUP0RQWKO\SD\PHQWLVFDOFXODWHGXVLQJD\HDUDPRUWLDWLRQ$OOORDQVDUH VXEMHFWWRFUHGLWDSSURYDO5DWHVDQGWHUPVZLOOEHGHWHUPLQHGEDVHGRQLQGLYLGXDOFUHGLWZRUWKLQHVV0DLPXPORDQDPRXQWIRUSURSHUWLHV ORFDWHGLQ/DYD+DDUG=RQHVDQGXSWR0XVWEH\HDUVRIDJHWRTXDOLI\IRUDORDQ0XVWEHDPHPEHUWRSDUWLFLSDWH 5HY )HGHUDOO\LQVXUHGE\1&8$ Visit us online at ĘĜÏŅĵĵüÏƚţÏŅĵ or call ĿƐLjěƀƀLjLjú #hicommfcu
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