Home sales in November were quite strong in Waimea for both number of sales and average sales price. There were a total of eleven sales with an average sales price just under $350,000. Closed sales favored the wet side of Waimea with 7 sales there compared to just 4 dry side sales.
Here is a look at November 2012 sales in Waimea:
Sales Prices in Narrow Range
While there have been higher average sales prices in recent months due to one or two higher priced sales, November sales showed a tight range in sales price. The lowest priced sale was $222,000 and the highest was just over $409,000.
Distressed Sales are Disappearing
The number of distressed sales – either a short sale or a bank owned foreclosure home – has steadily been dropping this year. In November, there was only one short sale and one REO home that sold. Since the distressed sales have been a major factor in lower home sales prices, the absence of these sales will lead to higher sales prices in the Waimea home market.
I love the Big Island! Aloha.