Note:  A new section at the end of the report is devoted to the World and U.S. trend in covid-19 total and  NEW case numbers. There are also web links to the World Health Organization daily reports and the daily numbers from CDC. Hawaii ranks fifth lowest in number of covid cases.

The latest data from Hawaii Information Service for North Kona residential market shows Pending sales are down from last year and have decreased in the last four weeks from 94 to 67. The data is  starting to show slowdown from the covid 19 restriction. Twelve month sales are still up nicely  as are Average  and Median Sale Prices. Median Price for homes sold in the past 12 months, priced up to $4.0M now stands at  $671,000.

SUMMARY TABLE
The Hawaii Island  Residential Pending Ratio  is now showing the negative effects of the covid virus restrictions. Pending sales have declined Islandwide.

The price range data shows the $900K to $1.5M price range has the largest increase in sales year/year. There has been an increase of 31 homes sales in that price range. The total number of home sale is up 14% from the previous 12 months.

North Kona Residential Data

REO PROPERTIES
The percentage of listings of REO or  Short Sales on the market has resumed its declining trend.

The REO numbers in Chart 6 show the number of properties owned by Fannie Mae, Deutsche Bank, Wells Fargo and Bank of America.The trend here is continuing of the declining trend. It is now only 58 down from  250 in 2010.

The Condo stats show the Pending sales slipped from 85 to 57 in the past month. Listing inventory has increased slightly.  Median Price is showing  +5%. year/year increase.

Land stats are beginning to some effects of the Covid restriction. The Active count is unchanged, but the pending sales are now off from last year (down 31%). Median Price is up 11% from the 2018-2019 twelve month period.

Page six offers a quick glance of the Pending Ratio trend for North Kona Residential, Condo, Vacant land and and  Hawaii Island. All categories are now showing decline from same date last year, with the exception of the $900K to $ 1.5M range (up 24%).

The Kona Residential Price chart since 1972 is updated with the new 2019 data.    This is based on a data pool of similar homes many of which are either new sales or resales over the years.   The total number of sales that make up the data pool is over  7,644 in the 23 subdivisions in the study.  The result shows the 2019  average price was  (plus six percent +6%) or $650,900.

The micro and macro cyclical trends continue as history always has a way of repeating itself.

Mahalo Nui as always to Realtor Broker Michael Griggs here on the Big Island for allowing industry colleagues to share information from his twice monthly market reports. For a pdf copy of the current report email me at renee@SearchHawaiiProperty.com.

Until Next Time…A Hui Hou!

A local kamaaina Realtor here with her pup Rubi ready to assist you with your
Hawaii real estate investments.