6 West Hawaii Real Estate | June 22, 2018
MLS Statistics Median price continues to rise MLS CHART 1 -‐ North Kona Residen>al # Sold in Past 12 Months vs. Median Price (thous.)
CHART 1 -‐ North Kona Residen>al # Sold in Past 12 Months vs. Median Price (thous.)
Median Sale $ # Sold (12 MN)
Median Sale $ # Sold (12 MN)
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North CHART Kona 2 Condominium -‐ North Kona Condominium # Sold #In Sold Past in Past 12 12 Months Months vs.vs. Median Median Sale Sale Price (Price thous)
(thousands)
CHART 2 -‐ North Kona Condominium # Sold in Past 12 Months vs. Median Sale Price (thous)
Median Sale $ # Sold (12 MN)
Median Sale $ # Sold (12 MN)
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Christina Sotelo, BA
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6/15/06 6/15/07 6/15/08 6/15/09 6/15/10 6/15/11 6/15/12 6/15/13 6/15/14 6/15/15 6/15/16 6/15/17
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6/15/06 6/15/07 6/15/08 6/15/09 6/15/10 6/15/11 6/15/12 6/15/13 6/15/14 6/15/15 6/15/16 6/15/17
The North Kona Residential market data from the Griggs
Report continues on an upward Sales and Price trend.
The number of homes sold and Median Price are up
significantly from the previous 12 months. Median Price is
up 9% from the previous 12 months in 2016 and 2017. There were
still 291 sales under $700,000. That number is shrinking due to the
lack of that more affordable inventory.
It will be interesting to follow the future report stats to see if
the current increase in eruption activity is affecting sales number
and price in the North Kona market and Hawaii Island in general?
The primary stats to follow will be in the “Island 12 Month Sales
and Prices” Table. Make a note of the current “Number Sold” and
“Average Price” and see if the trend continues to increase, levels
off or declines.
You can see in the Price Range table that the greatest increase
in sales is taking place in the $900,000 to $1.5M price range.
The activity in the higher price ranges certainly is beneficial to
the economy.
Chart 2 - North Kona Condo data shows the healthy increase
in 12 month sales numbers and Median Price. Median Price is at a
new recovery high of $304,000.
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)
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6/15/06 6/15/07 6/15/08 6/15/09 6/15/10 6/15/11 6/15/12 6/15/13 6/15/14 6/15/15 6/15/16 6/15/17
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6/15/06 6/15/07 6/15/08 6/15/09 6/15/10 6/15/11 6/15/12 6/15/13 6/15/14 6/15/15 6/15/16 6/15/17
North Kona 6/15/06 6/15/07 6/15/08 6/15/09 6/15/10 6/15/11 6/15/12 6/15/13 6/15/14 5/15/15 6/15/16 6/15/17 6/15/18 2017 vs 2018
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