North Kona Real Estate Sees its Share of Ups and Downs!

In one year from May 2009 to May 2010 single family sales rose 21%, but what is even more astonishing is the condominium sales have increased by 113%.

In just a month’s time from April 2010 to May 2010 the total number of sales for both single family homes and condominiums rose from 42 to 64 which is a total increase of 35%. The 2009-2010 year to date figures show single family home sales increased from 93 to 157 a 68% market increase and condominiums sales increased from 59 to 131 for a 122% market increase. In comparison to our boom times during 2004 and 2005 where in just the month of May 2005 alone, a total of 114 properties sold. We are still approximately 50% off where we would hope to be, but the numbers are showing that we could be recovering.

May 2009 to May 2010 % Increase

Residential = 21.43%
Vacant Land = 500.00%
Commercial = 0.00%
Condominium = 113.33%
Business = 0.00%

I get many calls and inquiries from mainland buyers asking is now the time to jump on the band wagon and buy while prices are still low and I always say that if I had the crystal ball to see when the bottom is over I’d be even more of a successful Realtor than I am now, but unfortunately I can’t answer that question. I do know that I can say there are some phenomenal deals out there to be made and if you’ve been on the fence to purchase, now would be the time to hop over that fence.