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Alas the latest data from Hawaii Information Service MLS system for the North Kona residential tells us that the market is still strong and active. We see the Kona residential inventory making the seasonal turn upward with an increase of 16 in the last 2 weeks. Pending sales have turned lower with this slow pre-winter time of year.

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12 month home price sales up to $4.0M at a new high of 530. This is reminiscent of  the numbers seen in 2002-2003 leading up to the last market peak.

The increase in inventory and reduced Pending Sales has caused the Pending Ratio to decline from 71 to 53 in two weeks.

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The price range data shows 50% of the sales fall in the $400K to $700K price range.    There are only 33 homes listed under $700K

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The Hawaii Island  Residential Pending Ratio  is exactly the same in both East and West Hawaii at 37. This is up slightly from this time last year.   

Screen Shot 2019-11-01 at 5.49.58 PMScreen Shot 2019-11-01 at 5.50.45 PM The Condo stats continue to be strong with a Pending Ratio a Sellers’ Market territory at a new high of 81.  Median Prices are showing +3%. year/year increase.  

The active inventory condos below $1.5M stands at 98, down 17% from last year.

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Median Price has turned positive after many months  showing decline. 

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Like Residential and Condo the Land stats show a shrinking inventory. The continued strong sales numbers will certainly contribute to further decline in inventory and price pressure.

Median Price has turned positive after many months  showing decline.

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The Kona Residential Price chart below has been  updated with the new 2018 data. This maintains a data pool of similar homes many of which were new sales or have resold over the years. The total number of sales that make up the data pool now stands at 7,644 in the 23 subdivisions in the study. The year/year price change  for this Mid-level housing group for 2018 is $615,100, up from 2017’s  $587,100.

This represents a 5% price increase from 2018.    

Screen Shot 2019-11-01 at 5.53.27 PMScreen Shot 2019-11-01 at 5.51.15 PMAs always mahalo to Realtor Broker Michael Griggs for allowing me to share his data reports in my social circles including my clients and the general public. For a copy of the report please email renee@hawaiibeachgolf.com.

Looking to Buy? Looking to Sell? Contact me today.

ME 2019

Renee H. Kraft Realtor Broker 23004 Hawai’i Beach and Golf Properties

Direct 808-345-2108 Until Next time…A Hui Hou!