We recently did some research for a client on sales of all 2 bedroom condos in the Waikoloa Fairway Villas in 2011 and 2012 so he could get a sense of where the prices have been.
We call this a snapshot because it only captures one condo complex in a large and diverse market. But this graph covers sales over 22 months and shows a pretty clear trend of rising prices and seems pretty representative of the market here. We think the answer of “Have we hit the market bottom?” has been answered definitively. While some buyers may lament missing the absolute bottom of the market, prices are still a bargain compared to the height of the market.
In 2006 there were 8 sales of the same 2 bedroom condos at the Fairway Villas; the average sales price was $663,000. Now is a great time to buy into the Big Island market. If you would like specific information on a condo complex, subdivision, or area of West Hawaii, contact us.