The new year did not have a good start in Waikoloa Village for condo sales. January sales figures are in and there were only two condos that sold last month. The overall sales price was higher than many past months’s average sales price – coming in at an average of $192,500.
Here is a look at the two sales in January for Waikoloa Village:
The number of distressed sales (short sales or bank owned condos) was 50% of the sales with one of the two sales falling into this market segment. The sale at the Waikoloa Fairways was a really great deal for that buyer as this unit is located in the A building and has great golf course and ocean views.
If you look at this sale, you will see that the original price was over $100,000 higher in the mid $300,000’s. But, very few condos have sold in Waikoloa in the price range of over $300,000, so a major price reduction was needed to make this sale.
I’ll be back next week to look at the inventory of condos for sale in Waikoloa Village and see if it is a buyer’s market or a seller’s market.
I love the Big Island! Aloha