June Sales For Waikoloa Village Condos and Distressed Properties

This Waikoloa Hills condo (MLS# 255830) is 1,157 sq.ft. with two bedrooms and upgrades and is listed at $140,000

At the half way mark in the year, June’s 5 condo sales brought the year-to-date number up to 26 condos sold. This number is slightly behind 2011’s total of 32 condos sold in the first six months. However, the average sales price has increased up to $155,446 from $146,716. This trend of less sales but at higher numbers are consistent with the sales figures being reported on the Big Island.

Here is a look at the condos that sold in June:

Distressed Sales

Short sales were under half the sales last month with just 2 out of the 5 sales going to short sales. Year-to-date for 2012, distressed sales were exactly half of the reported sales with 13 sales. In 2011, at the halfway point, Waikoloa Village condo sales were at a similar number with 15 out of the 32 sales.  

At this time, there are 25 condos listed for sale, but only 8 of these listings are short sales. There are no REO’s on the market, showing the slow down in foreclosed properties owned by the banks and up for sale, but if you look at the condos that have gotten accepted offers and are on the closed sales path, this number is still around 50% with 8 out of 17 condos in escrow being distressed properties. These numbers tell me that many buyers out there are still looking for a deal on the price of a condo.

I love the Big Island! Aloha.