West Hawaii Real Estate Market Update May 2018

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As we head into the summer and usually slower time for real estate in West Hawaii, I wanted to show you that stats from April. A already hot market was getting hotter and now with the advent of summer AND the recent lava eruption event, which the news media is protraying as a massive catastrophe for the entire island, we may see softening home prices. (To remind you, West Hawaii is 100 miles from the volcano and the lava activity)

If you are interested in being placed on a listing alert, my husband Eric has access to the local Multiple Listing Service and can get homes currently available on the market sent directly to your email. I am also sending updates through a monthly email newsletter, so send me a request at Julie@Ziemelis.com and I will send you info – because we are in very interesting times right now on the island.  The fact that West Hawaii is STILL West Hawaii with the ocean and beaches and such, it still is in high demand, but with the big hit on tourism we have experienced, there may be people who have to leave the island.

North Kona Single Family Homes

According to data from the local multiple listing service in North Kona for single family homes.

sales counts were down 11.54% with 46 sales, compared to 52 for April, 2017.  The total year to date home sales are 167, which is down from 170 for this time last year, or -1.76%.

The sales volume was up 9.85% at $52.585,000, compared to $47.871,000 for April, 2017.  Total year to date home sales volume is $207.214,000, which is up from $138.194,000 for this time last year an increase of  +49.94%. The year to date median price is $675,000, which is up from $617,875 for last YTD, or +9.25%. Interesting to note that year over year, the median price of a single family home in North Kona has risen 25.29% at $817,500, compared to $652,500 for April 2017.

North Kona Condos:

As single family home prices have risen, so has the demand for condos. Sales counts were up 30.77% with 51 total sales, compared to 39 for April, 2017. However, year to date total condo sales are 144, which is down from 154 last YTD, or -6.49%. Sales volume was up 13.93% at $27.881,000, compared to $24.471,000 for April, 2017. The year to date condo sales volume is $87.230,000, *–/// which is down from $87.327,000  last year at this time, or -0.11%.

The median sales price was up 12.07% at 325,000, compared to $290,000 for April, 2017.  The current median price is $343,900, which is up from $295,250 last year at this time, or 16.48%.

Email Eric Ziemelis, Realtor, at Eric@Ziemelis.com for information about available homes on the market. Mahalo!



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Julie Ziemelis

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