Waikoloa Village Update – Statistics For October Homes For Sale

Time to look at Waikoloa Village homes for sale and how real estate sales were for October 2011. Last month was again a slow month for sales, with a total of just six home sales for Waikoloa, including two homes in the Paniolo Estates area. Without the Paniolo Estates sales there were only 4 homes that closed in October, but this is an increase from September’s low of just two sales in Waikoloa Village.

Here is a look at the Waikoloa home sales:

With an average sales price of just $252,817, October sales were disappointing in price as well as overall sales numbers. Again, there was a large percentage of distressed properties—short sales or bank owned property (REO’s)—with three REO’s accounting for half the sales. Distressed sales will be the majority of future sales, as right now with 15 homes in escrow, 11 of these homes are either a short sale or REO.

Prices should rise a bit as 8 of the homes in escrow are priced over $300,000 with one home listed at $799,000. Doing the math, you can see that homes under $300,000 are still very popular, making up about half of future sales with a total of 7 in escrow at this time.

I’ll be back next week to look at the inventory level of homes for sale in Waikoloa Village. I love the Big Island! Aloha!

Pat Strausse, R(B)
Cell: 808.960.5745
Pat@hawaiilife.com