Aloha!
The purpose of the #griggsreport is to provide the reader with accurate market data that gives an up-to-date view of the real estate market trends in #northkona and #hawaiiisland. The most important factor in trend for most is Price Direction and Rate of Price Change. However price data is based on past sales. Current market inventory levels and pending sale trends can give clues as to future price direction and rate of change. The report uses the “Pending Ratio”, the ratio of Pending Sales to Active Listing Inventory as a measure of this current supply/demand dynamic. By following the Pending Ratio’s over time the report uses charts to illustrate the trends. The higher the ratio number, the tighter or stronger the market demand versus supply.
There are other important factors followed in the reports primary tables of Res, Condo and Land data. Those would be: number sold in past 12 months, in the past 30 days, average and median price and volume.

Grew up in Lanikai on the island of Oahu, Hawaii
One must keep in mind that the data collected is quite broad and includes a very diverse range of properties. Various different market niches and specific properties could be performing much differently than what is indicated in the reports general trend data.
Highlights in this Report: For a complete copy of this report please email renee@searchhawaiiproperty.com
1. Page 1, Table 1 we see the #hawaiisland Median Price remains at $550,000. All of the residential stats are about as ideal as you can have. Plenty of inventory but not too much, good escrow activity, sales up and price appreciation at sustainable +6 % per year. Pending Ratio which is trending lower should reverse this seasonal pattern early in the new year.
2. The Page 2 Pie Chart shows the dramatic shift in sales numbers per price range in just 1 year. This is a dynamic market with a steady stream of home sale despite the changing Price landscape. The dominant sales price ranges are now the $500K to $700K ranges. It’s interesting to note that in this report we see 32 fewer sales under $500,000 and an a more than offsetting increase of 60 in the over $500,000 range.
3. The Island wide Residential Pending Ratio’s is on a level trend.
4. The Percentage of MLS listings that are either REO or Short Sales island wide is down (-2%) from this time last year. Waimea have shown steady decline since the beginning of the year. The island wide percentage of MLS residential listings that are either REO #hawaiiforeclosures or Short Sales are at a new recovery low of only 12% on average. In late 2011 the percentage was near 40%.
5. The #hawaiiisland wide #foreclosure REO count for the four lenders tracked has leveled off in the past 6 months.. For the year the number has declined a modest (–9) .
6. The Condo year over year data shows condo Median Price up +3% over the previous 12 months. Inventory is up and annual sales numbers are behind a year ago. Pending sales are also down a bit in this report.
7. The Land market year over year stats show a trend similar to Condo’s. However land sales for the past 12 months are off (-24%) from 2014. This may be due to the investment nature of these properties.. It is reassuring to see the stock market rebounding well from the August dive.
8. The #kona vs. West Coast page 8 is new. San Diego seems to follow the #kona sales and inventory trend very closely. There appears to be a one year time lag between when the price trend momentum shifts. These new charts may be very useful in forecasting future price direction in the Kona and Hawaii Island market areas. Chart 2 on Page 9 is the most interesting of the charts. This chart plots the changes in year over year price appreciation or decline.
Mahalo as alway to Michael Griggs for his wonderful informative reports for Hawaii Island. Griggs Report. Published bi-monthly by Michael B. Griggs, R(B) of Clark Realty Corporation.
Until Next Time…A Hui Hou!
Renee H. Kraft Realtor Associate LIST Sotheby’s International Realty
#searchhawaiiproperty #islandlife #konacoast

Renee H. Kraft Luxury Top performing Hawaii State Broker born and raised on the island of Oahu named one of Hawaii State’s very best Realtors. She brings exceptional service to her clientele. Licensed professional Realtor in Hawaii Real Estate since 1992. She has the experience and tenacity to market effectively, negotiate, and focus with attention to detail every step of the way. Educated 7th – 12th grades at the La Pietra Hawaii School for Girls and the University of Hawaii Manoa campus with a B.A. in Psychology. She strives to continually keep up on the Hawaii economic forecasts and daily market activity. Technology driven Renee understands the importance of keeping her clientele in the loop on current market availablility and knowing the market inventory is 100% key to get her clients what they want. Extraordinary exceptional homes, estates, condominiums, and vacant land are her specialty. Integrity and honesty are just a fraction of what Renee shares with her clients and a very strong work ethic. Putting the client’s needs first utilizing the range of experience and knowledge, combined with a a huge amount of Aloha gives her great satisfaction that she can help her clients make sound and profitable real estate investments. Member Rotary Club of Kona -Accredited Buyers Representative (ABR) -Sellers Representation Specialist (SRS) -Graduate Realtors Instutute (GRI) -Resort and Second Home Property Specialist RSPS).