Q3 Hawaii Island Market Report

As we enter the 4th Quarter of 2017 at the end of our summer sales season, I thought it would be helpful to asses the positive market trends so far for the State and island of Hawaii and the US for 2017. Below is a synopsis of some helpful statistics I gathered from the Corelogic and our Multiple Listing Service-Hawaii Information Service.

The stats indicate a general positive trend with +6% average value increase nationwide-Year over Year (YOY)-and for most areas of the State of Hawaii and the island of Hawaii also. Regarding the Kohala Coast market, the median sales price of single family homes has started to catch up with condominiums with a year over year increase of +12.36%. Condominiums have leveled out at a +5.16% increase-YOY. Due to lack of inventory in the $560k range-total number of homes sold have decreased slightly YOY-6.47%.

Sales volume gives you a clue as to momentum. Both homes and condominiums are up over +21% for SFR and +30% for condominiums-YOY.

For particular note, these stats show an above average, positive result for my particular market area:

South Kohala Resort District:

+5.16% Increase in median sales price of condominium homes YTD 2017 vs. YTD 2016 South Kohala Resort District-$489,000.
+12.36% Increase in median sales price of single family homes YTD 2017 vs. YTD 2016 South Kohala Resort District-$560,700.
+14.59% Increase in the total number of condominium homes sold YTD 2017 vs. YTD 2016 South Kohala Resort District.
-6.47% Decrease in the total number of single family residential homes sold YTD 2017 vs. YTD 2016 South Kohala Resort District. Probably due to a lack of inventory.
+21.39% Increase in total sales volume of SFR homes YTD 2017 vs. YTD 2016 South Kohala Resort District.
+30.18% Increase in total sales volume of condominium homes YTD 2017 vs. YTD 2016 South Kohala Resort District.

Again and importantly-Please scroll down or click the links for more detail. If you would like a more detailed analysis of your community and or your particular property please click here to contact me! I am more than happy to assist in evaluating your home-it’s a great time to buy and sell in Hawaii.

Sincerely,

Rick Oliver R (Broker) RB 18823
Clark Realty Corporation
Over 30 Years of Real Estate experience!

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