Waikoloa February Home Sales Show Higher Prices Continue

Waikoloa February home sales show higher prices continue as February’s average sales price was $455,500 compared to the January average sales price of $417,125. This average sales price was helped out by one higher end sale at $629,000. The majority of the sales were in the $400,000’s, making this the new sweet spot for listing prices in Waikoloa. Number of sales was flat with a total of 8 sales in February, same as total sales number in January.

Here is a look at all the February home sales in Waikoloa:

Sales Prices Close to Asking Prices 

There was very little room for buyers to negotiate price as the average closing sales price was 97.8% of the seller listed price. In fact, there were two sales that were at a higher sold price than the listed price. Also, time on market continues to be fairly low – with two homes priced under $400,000 going into escrow in just about two weeks. There was one very long days on market of 425 that skewed the average days on market to 114 days. If this sale was removed, it would fall to just 61 days.

Homes in Escrow

At this time, there is a fairly large number of homes in escrow – 24 total. Most of these homes should be closing in the next two months, 45 to 60 days being the most common time to close a home sale here on the Big Island. Most likely, there will be a slight drop in sales prices in the next few months as close to half of the homes in escrow are priced below $400,000.

Homes For Sale

There is a nice selection of homes on the market right now in Waikoloa, with a total of 31 homes listed for sale. There is a wide price range from $345,000 to $685,000. The number of homes under $400,000 has dropped down to just 4 homes, about the same number of homes priced over $500,000.

One of the most interesting differences in these two price ranges is the days on market. The homes in the $300,000’s have an average time on market of just a hair over one month at 32 days. But, the higher end homes have been on market for quite some time with an average days on market of 318 days.

What Do These Numbers Mean for Buyers?

What should a buyer take away from all these numbers? If you are looking at a home that is priced under $400,000, you will need to move quickly and be prepared to offer very close to asking price…and maybe even over asking price. And, if you are a high-end buyer, the good news is that Waikoloa home market now has several resort-quality homes offered for sale.

I love the Big Island! Aloha.