The latest data from Hawaii Information Service (MLS) for the North Kona residential market is making history! As of 1-31-2021 there are only 67 homes on the market price below $4.0M. Inventory is at the lowest level for this date since the stats were first reported. Pending sales are strong and probably would be higher if it weren’t for the lack of inventory.  Median price for the last 12 months sales continues to climb and now stands at $769,800.  This is up 18%! The current data trend shows several similarities to the peak demand years of 2003 and 2004.  Eventually price rose  to peak price in 2006-7 and the cycle ended. Lets see how this data pattern plays out the next 1-2 years.

 The price range data shows prices ranges up to $1.5M are in the PEAK demand category. There are only 20 homes now listed below $900,000.

The Hawaii Island  Residential Pending had rebounded sharply since April.  It was early April that the U. S. Covid 19 case numbers began to No doubt that the excellent virus control established in Hawaii is a strong demand point.

There are very low levels of  distressed properties on the market. The latest update for December 31st 2020 shows all market areas with declining numbers. Eventually the declines should level out as the distressed property number reach a stable healthy market point.

The Condo stats are showing a turnaround.  Pending sales are up as is the Pending Ratio. The data supports the winter buying season is gaining momemtum and should continue an uptick for months to come.

The Land  stats are following the trend of the improved residential market with sharp decline in inventory and conversely  Pending Sales improved at a greater rate.   Prices are gradually moving higher. 

The pending ratio trend for North Kona Residential,  Condo, Land and  Hawaii Island. This table shows remarkable improvement from last year for all categories.

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