Aloha, Lance here with LUVA Real Estate, sorry my Market Report is so late this month, but we are busy! I finally forced myself to sit down and take a look at how busy Kona real estate really is.
Condo sales - up 27% and I bet it would have been much higher if the inventory was there. Median price shows an increase of only 2% , but that number doesn't tell the real story. This is where Zillow and Trulia get left in the dust - call an expert in the area for the real story.
Quick example, Alii Lani Condos, nice complex, 100s of units, lots of sales to use as comps. 2012 you could have purchased a 2/2 for $138,000 , that 2/2 in 2013 is going to cost you $195,000 and climbing FAST. I'm no mathematician, but that looks like a little more than 2% ???
The big story was in Home Sales:
September 2013 home sales, better than 2012 (almost double) better than 2011, 2010, 2009, 2008, 2007, 2006, I had to go all the way back to 2005 to find a better September than the one we just had.
According to the Hawaii MLS, we were up 75% over last year, and remember when your looking at my numbers, they are all black and white, no adjustments, no manipulating, just the facts, the way they were written.
Condo sales - up 27% and I would bet it would have been much higher if the inventory was there
Land sales - showed a <28%> drop in sales, but Year To Date is still up 74%, largly due to inventory again. I can tell you fist hand on that one. We just closed on our personal land deal last month and really felt the pinch on what is out there.
Click here for the full report and more: Hawaii MLS Reports
In parting, I will share a photo or 2, from our September office meeting - one of the perks for working at such a great Luxury Real Estate firm, is all they toys. Our meeting was held on a 54 foot Bertram fishing boat, leather couches, satellite TV, air conditioned, cool captain and all the fishing gear you could imagine, meet my little spotted dolphin friends playing in our wake. Second one is a mamma and her baby, there must have been a thousand of these guys.
Aloha and Mahalo
- See more at: http://activerain.com/blogsview/4225046/hawaii-home-sales-september-2013-off-the-charts-#sthash.IJOlnEaz.dpuf
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