What’s Big In Waikoloa Home Sales?

The big news in Waikoloa Village homes sales is…short sales.

The average Waikoloa Village real estate residential sales price (year to date) is $333,722, negotiated down from an average listing price of $357,200. Wondering where a sales price of $335,000 fits into the historic pattern of Waikoloa Village sales?

As you can see, the chart was bouncing around the $350,000 range before it took a bit of an upturn in the last quarter. March sales are yet to be reported, but at this point it appears the amount of distress sales are having an impact on pricing in the Waikoloa Village home market.

For the first two months of 2010 there were 9 home sales recorded in Waikoloa:

• 3 were short sales,
• 1 was an REO (bank owed after foreclosure),
• 1 was a Fannie Mae owned home.

Currently Waikoloa Village is running close to half of all its homes sales in the “distressed” category.