REOs, shortsales, and sellers aware of the prices that today’s buyers demand are bringing down prices at Waikoloa Village into the $300,000 range.

Sales at Waikoloa Village averaged at $314,725 last month, bringing figures back in line with the average in the first quarter of 2010, but down quite a bit from March’s average of $400,000. At only four sales, the number of closings was also down slightly from previous months’ average of 5 sales per month.

This Waikoloa Village home was sold even before coming onto the market.

Among April’s four sales were one REO, one short sale, and two non-distressed properties. One of the two non-distressed properties, however, had a huge $100,000 price reduction—from $450,000 down to $350,000—just before going into escrow.

There are now 23 homes in escrow in the village and only three of these homes have an asking price over $400,000. We can therefore expect that the next four or five months will continue to see average sales prices in the $300,000 range.

A newly listed short sale at $365,000, MLS 234340 features hardwood floors, tile, and a stainless steel refridgerator

There are now 53 homes for sale in Waikoloa, and 34 of them are priced under $400,000.  Of course, many of these are short sales and REO’s … or homes of smart sellers who are aware of the price range that today’s buyers demand.

Contact me for more information about the numerous homes for sale in Waikoloa Village.

Big Island, Condos, For Sale, REO, Sales Stats, Short Sales, Waikoloa, Waikoloa Village