Lack of Inventory Leads to Waikoloa Village Lot Prices Almost Doubling
There are not lots of lots for sale in Waikoloa. In fact, there are only four lots listed for sale at this time. After a recent period of time when there were no lots listed for sale, the past month has seen four new listings appear.
Building activity is picking up again on the limited supply of empty lots in Waikoloa
But, these lots are now priced from $120,000 to $150,000. These new lot prices are almost double the $82,000 figure that is the average price of lots sold so far this year in Waikoloa.
Waikoloa Village Market Activity (Lots)
Here is a look at the 4 lots currently listed for sale in Waikoloa:
Sales in 2013 have been fairly slow this year with a total of just about a dozen lots sold so far this year. A look at the sales prices shows that there has been a large variance in price from a low of $55,000 to a high of $127,500.
Here is a look at Waikoloa lot sales so far this year:
Waikoloa Village Lot Price Prediction
As recently as in the mid 2000’s, there were still many vacant lots throughout the Waikoloa Village area. But, in the last housing boom, most of these lots were bought and quickly built upon. Prices went soaring – hitting a peak with some sales in the $300’s in 2005 and 2006.
Most of the remaining inventory of lots in Waikoloa is now in the Kilohana Kai subdivision
When home prices started to drop in the midst of the 2008 financial melt downs, Waikoloa prices also began falling. By 2010, most lots were again selling under the $100,000 mark. But, it again looks like that price is history with the newest listings all being in the mid $100,000’s.
Because Waikoloa now has a fairly limited number of vacant lots left, supply and demand will play a large role in setting prices for lots. So, I think most likely that future sales will continue to rise upwards. I’ll check in again at the end of the year.
I love the Big Island! Aloha