In looking at Waikoloa Village homes for sale, one useful tool is to look at the inventory of homes for sale. If there is more than a six month supply of homes, it is considered a buyer’s market; if there is an inventory of homes for sale under six months, that is considered a seller’s market.
In the past year, there have been 85 homes sold in the village with an average sales price of $301,831. Out of these 85 sales, 55 homes have been either a short sale or a REO—or about 65% of the sales have been a distressed sale. (Distressed sales are either short sales or REO’s.) You can see that this type of sale has become more of the norm for sales over a “straight sale” directly with the seller, which does not require bank approval.
At this time, there are 50 homes listed for sale in Waikoloa with an average listing price of $408,569. There is a rather large price range in these homes going from a low of $179,900 for a real fixer upper to a high of $975,000 for a five-bedroom home with a pool.
With just 85 homes sold in the past year, the average number of homes to change hands each month is about 7.1 homes per month. Doing the math on this gives a current inventory of 7 months to sell all the homes in Waikoloa Village.
Last month, the inventory level was at 7.5, down from 8.1 in September. So, at this point, it is still a buyer’s market for homes in Waikoloa Village, but the recent trend has been a reduction in inventory levels, showing some growing strength in sales.
I love the Big Island! Aloha.
Pam Deery
December 6, 2011
Great information Pat. What the trend does not show, is that the inventory also includes several properties that are “shop worn” or just worn. With the large number of homes selling monthly, a home that has been on the market more than it’s “share of time”, needs help or adjustment in price..or both.
Pam Deery
December 6, 2011
Great information Pat. What the trend does not show, is that the inventory also includes several properties that are “shop worn” or just worn. With the large number of homes selling monthly, a home that has been on the market more than it’s “share of time”, needs help or adjustment in price..or both.
annie mendoza
December 12, 2011
Yes, GREAT info Pat! Even some of the homes that are NOT short sale or REO are priced to sell. Still a buyers market…but for how long? I still see some vacant homes and it makes you wonder if or when they may ever come on the market. But things seem to be settling down, and your analysis shows it. Mahalo!
annie mendoza
December 12, 2011
Yes, GREAT info Pat! Even some of the homes that are NOT short sale or REO are priced to sell. Still a buyers market…but for how long? I still see some vacant homes and it makes you wonder if or when they may ever come on the market. But things seem to be settling down, and your analysis shows it. Mahalo!