While some may speculate the recent volcanic activity of Mauna Loa is influencing the Big Island's housing market, longer view trends are showing a sustained slowdown since the peak of last year's housing craze (02/2021) and the increase in rising mortgage interest rates (01/2022). Year-over-year, there were 96 less homes for sale (-29%) as sales activity returned to pre-pandemic ranges. Most notably, median days on market for single-family homes have been consistently going up from a recent low of 11 days in June to 37 days in November.  Brief Overview: Island of Hawaii Unit Sales Stats for November 2022 VS. November 2021 TOTAL SALES Single Family Homes – Total sales of 170 single family homes marks a decrease of 26% units in comparison to November 2021. Condos –30 total sold - down 59% from 2021 numbers. Land – 119 total sales of land offerings representing a decrease of 48% when compared against 2021 sales for November. NEW LISTINGS Single Family Homes – 177 new listings. Condos – 56 units in November 2022...

Filed under: Blog, Newsletter, Real Estate by Rick Oliver
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As summer comes to an end the Big Island real estate market continues to cool as sales activity returns to pre-pandemic levels. Even though the total number of transactions were down 30% year over year, median sales price remained flat. With interest rates nearing 7%, buyers are not particularly motivated to purchase while sellers who locked in 2.75% - 3.5% mortgages or paid cash are even more unlikely to sell anytime soon. Brief Overview: Island of Hawaii Unit Sales Stats for October 2022 VS. October 2021 TOTAL SALES Single Family Homes – Total sales of 180 single family homes marks a decrease of 31% units in comparison to October 2021. Condos – 46 total sold is down 44% from previous 2021 numbers. Land – 179 total sales of land offerings representing a decrease of 24% when compared against 2021 sales for October NEW LISTINGS Single Family Homes – 201 new listings. Condos – 45 units in October 2022 Single Family Homes Specific Stats: Median Sales Price: $510,000 in October 2022. An increase of 6% over me...

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Sales on the Big Island have certainly slowed as there were only 244 total single-family home and condo sales in September 2022, down 47% from the peak of 456 combined sales in March 2021. Prior to the pandemic, total sales activity ranged from 200-260 sales per month, so the current decline is in line with normal levels. Even though properties are taking nearly two weeks longer to sell, prices are holding strong. Brief Overview: Island of Hawaii Unit Sales Stats for September 2022 VS. September 2021 TOTAL SALES Single Family Homes – Total sales of 198 single family homes marks a decrease of 27% units in comparison to September 2021. Condos – Down 44% in sales. 46 total sold. Land – 172 total sales of land offerings representing a decrease of 28% when compared against 2021 sales for September NEW LISTINGS Single Family Homes – 213 units with a 21% decrease over previous 2021 period. Condos – Down 45% for new listings. 44 units in 2022 Single Family Homes Specific Stats: Median Sales Price: $538,000 in Sep...

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The Big Island real estate market is following national and statewide trends as sales activity decreased 25% year over year with only a slight increase from August (243) to August (257). Other key indicators including median sales prices remained relatively flat as both buyers and sellers continue to let the macro economic market conditions play out. Brief Overview: Island of Hawaii Unit Sales Stats for August 2022 VS. August 2021 TOTAL SALES Single Family Homes – Total sales of 200 single family homes. Down 25% compared to August 2021. Condos – Down 37% in sales. 57 total sold. Land – 193 total sales of land offerings representing a decrease of 29% when compared against 2021 sales for August NEW LISTINGS Single Family Homes – 214 units with a 29% decrease over previous 2021 period. Condos – Down 46% for new listings. 43 units in 2022 Single Family Homes Specific Stats: Median Sales Price: $484,000 in August 2022 a slight decrease of 2% over median prices from August 2021. Days on Market: 22 days on mar...

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Buyers are regaining control on the Big Island as median sales prices continued their decline from recent highs while days on market increases. Since July 1st, of the 678 combined single-family homes and condos listed for sale, 21.6% have seen a price reduction. Properties that are priced accordingly and present well are continuing to sell quickly. Brief Overview: Island of Hawaii Unit Sales Stats for July 2022 VS. July 2021 TOTAL SALES Single Family Homes – Down 31% in sales - totaling 180 units. July 2021 saw 261 sales. Condos – Down 23% in sales. 63 total closed. Land – 211 total sales of land offerings representing a decrease of 27% when compared against 2021 sales for July. NEW LISTINGS Single Family Homes – Down 7% with 238 units. Condos – Down 15% for new listings. 60 units in 2022 Land – Down 17%. 256 vs. 310 for 2021. Single Family Homes Specific Stats: Median Sales Price: $456,000 in July 2022 an increase of 7% over median prices from July 2021. Days on Market: 19 days on market for July 20...

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Two months into the year and the Big Island real estate market continues its competitive streak. Even with interest rates creeping up which puts pressure on affordability, properties are selling as fast as they come on the market. For both single-family homes and condos, there were more sales than new listings driving months of remaining inventory towards record lows. Here is a brief overview: Island of Hawaii Unit Sales Stats for February 2022 VS. February 2021 Single Family Homes - Down 5% in sales. Total of 225 units. Market is supply restricted, so not a surprise. Condos - Down 50% in sales.  84 total closed. Market is supply restricted. Again, no surprise. Land - Increased to 207 total closed. Market is less supplied restricted and shows this with positive unit growth in 2022 versus 2021. Single Family Homes Specific Stats: Median Sales Price: $515,000 in February 2022 a modest decrease of 2% over median prices from February 2021. Days on Market: 14 days on market for February 2022. Condominium Speci...

Filed under: Blog, Kohala Coast Luxury Resorts, Newsletter, Real Estate by Rick Oliver
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December 2021 continued the positive trend in real estate sales on the Big Island. This paragraph states it best from our Coldwell Banker Market Report. "In closing out the year, homes are selling at an astonishing rate across the Big Island. Condos sold 38 days faster in December 2021 compared to December 2020, averaging just 18 days on market. Meanwhile, single-family homes sold in 42 days and at a median price of $536,000, a 12% increase compared to the year before. The median sales price for land also continues to rise, with a 52% increase from $31 ,500 in December 2020 to $48,000 in December 2021 ." See other facts and figures presented by watching the short video presentation or call me to discuss your particular community and it’s probable rising value.   Subscribe here to receive my blog posts and monthly Newsletter. Click here to search Big Island Real Estate Buyers there are still offerings available but you have to act fast when they become available. Call me to discuss a winning offer strategy! &n...

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It’s never been a better time to SELL your property along the Kohala Coast-Call me to LIST AND SELL!!!! When comparing the first 11 months of 2020 and 2021 one has to consider that 2020 was a lockdown year and 2021 has seen explosive market conditions. The most explosive statistics are the increase in average sales prices of CONDOS and VACANT LAND - see below! November 2020 was one of the first months where Hawaii lifted a majority of travel restrictions. A "better" comparison is probably to the 2019 real estate market but for simplicity sake, here are some “fun facts” comparing November of 2020 vs. 2021 for the entire Hawaii Island. Watch the full video for more interesting stats and review the complete report for other districts. Subscribe here to receive my blog posts and monthly Newsletter. Click here to search Big Island Real Estate Island of Hawaii Total Sales for first 11 months compared to 2020: • Single Family Homes- Down 23 units to 223 total closed sales. Market is supply restricted so no surpris...

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It’s never been a better time to SELL your property along the Kohala Coast-Call me to LIST AND SELL!!!! When comparing the first 10 months of 2020 and 2021 one has to consider that 2020 was a lockdown year and 2021 has seen explosive market conditions. A Better comparison is probably to the 2019 real estate market but for simplicity sake, here are some “fun facts” comparing October of 2020 vs. 2021 for the South Kohala District. Watch the full video for more interesting stats and review the complete report for other districts. District of South Kohala including the Waikoloa Beach Resort, Mauna Lani Resort and Mauna Kea Resort Unit Volume Sales of Single Family Homes has declined -41% to 20 total units and the median price is +17% to $799k Unit Volume of Condominiums has declined -9% to 29 total units and the median price is +71% to $1.2m. This is probably due to the mix of units sold/closed in October but it does show the rapid price of resort condominiums. -Unit Volume of Land/Lots is up +22% to 11 total sales ...

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My friend Rachel asked me if I had seen the drone video floating around of a tiger shark cruising very near shore, amongst unsuspecting snorkelers probably from the Fairmont Orchid. The drone video location was just south of the Fairmont Orchid where we open water swim regularly. During the COVID lockdown months in 2020, the resort lap pool was closed and our masters group could not meet. We started a 3-day a week, early morning swim, from our Mauna Lani Beach Club at Makaiwa Bay to the dive buoy at Peaks surf break, just North of the Mauna Lani Bay Hotel (Auberge). When time and weather conditions permitted, we would swim further to the Fairmont beach, take a break and swim back-2.6 miles round trip.  This video is of a tiger shark cruising in the shallow water exactly where I’d clip the corner and enter the narrow entrance into the Fairmont’s beach. The rest of the crew would stay in deeper water and take a more direct route into the Fairmont. Note the narrow entrance into the Fairmont beach on the video when it zooms out...

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