Waikoloa Village April (2012) Home Sales Down in Numbers But Up in Price

Listed at $280,000, this is one of the entry level homes (MLS# 245351) in Waikoloa Village

April home sales in Waikoloa Village were down slightly in numbers from March, but the average sales price showed a slight increase. In April, there were only 5 homes sold compared to 8 homes sold in March. April’s average sales price was a hefty increase up to $306,833 from $268,688.

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

Summary

Not only were the overall sales numbers lower, the number of distressed properties was also lower with just 33% of these sales being either a short sale or a REO. This is running about half of the distressed sales percentages last year.

The number of distressed properties is also making a shift away from REO’s, or bank owned properties, to more short sales. This is a combination of Hawaii’s new foreclosure law along with Federal pressure on the banks.  

Current Homes For Sale in Waikoloa Village

Looking at current homes for sale, there are just 10 distressed properties listed in the total of 40 homes for sale and only one REO in the batch. Most of these homes are the entry level homes listed from the mid $300’s down into the $200’s.

Also, the number of days on market for these sales is now fairly low with the slowest sale at 90 days and most of the sales at one to two months. Bottom line? Homes are moving faster in Waikoloa Village and buyers looking for a great deal may have to move quickly.

I love the Big Island! Aloha.