This month, I’m going to start something new in my monthly analysis of Waiki’i Ranch real estate sales. In addition to my ongoing monthly recap of real estate sales in Waiki’i, I’m going to take a look at where the current inventory of available homes for sale is in relationship to the number of sales last year.
The real estate industry has a standard mark of a 6 month inventory being the dividing line between a buyer’s market and a seller’s market. A seller’s market is considered any market where the inventory for sale is less than a 6 months supply. A buyer’s market is more than a six month supply of inventory.
This 3 bed, 2 bathÂ Waiki’i Ranch home (MLS# 240386) is located on 10 acres with ocean, mountain, and sunset views
In 2010, there were 5 homes sold in the Waiki’i Ranch area (one home was sold on Saddle Road which is located across from Waiki’i Ranch). Currently, there are 6 homes listed for sale in Waiki’i, this means the current inventory is at about a 15 month supply. With a current inventory of homes that will take more than a year to sell, this is a very strong buyer’s market.
Sellers can expect their homes to have long days on market. And, the days on market bears this outâ€”one home has 1,100 days on market and another home has over 400 days on market. There are 3 homes with fairly low days on market of 60 and 90 days. However, all three of these homes are repeat listings, having been on the market before and taken off to rest, and have now been brought back as a new listing.
I use this inventory guide and think it is valuable information to share with buyers and sellers. Buyers will have this information for putting in an offer on a home and sellers for pricing a home. A good way to follow a market is over time, so it will be fun to see how the inventory times change through the year.
I love the Big Island!