Who is Buying What? Kailua Kona Condo Sales 2011 - Posted January 2012

January 3, 2012 - Interview with Kailua Kona Realtor Lance Owens (RS) Aloha Kona Realty Inc. 

Ok we all know 2011 was a good year for Real Estate Recovery in Hawaii, but every now and then I like to break it down and see who is buying - what? And it always surprises me, along with many of my readers. 

So I took November 2011 Condo sales, 17 sales,  to see who is paying the taxes on it - basically the new owner. (December wouldn't be updated yet) 

Sales Ranged from - 

$53,500 for a 372 sqft studio - leasehold property 

To a $1,175,000.00 for 2/2 1,800 sqft, Fee Simple property 

How many guessed Foreign investors? 

How many guessed Mainland Investors?

How many guessed Owner occupied? 

Well if you guessed Mainland investors - you win! 

California leads the pack with 4 buyers listing a California address. 

Hawaii comes in 2nd,  with 3 buyers.

Washington State comes in 3rd,  with 2 buyers.

Alaska, Montana, Oregon, Nevada, Texas, Kansas and Minnesota, each brought in 1 buyer.

And we had 1 Foreign buyer - Canada. 

Anybody want to guess how many of these sales were cash? ....................... 11 of the 17 were cash sales. 

If you get a chance take a look at "Home Sales - who is buying what for November 2011" 

Be sure to look for the upcoming forecast for 2012, and a look back at 2011 sales.