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Kohala Coast, Hawaii Island Price Changes

Whenever I speak to my Kohala Coast, Hawaii Island prospective buyers, they ask "how's the market?"  I tell them it depends. Are you asking about the number of unit sales, or median sales price?  Are you asking about all of South Kohala, or only the luxury resort market segment?  For this discussion, luxury is defined as homes and condos above $925,000.  To my knowledge that's the least expensive unit within a tennis and golf resort with a nice ocean view.  Condos currently offered under this price have peek-a-boo views at best, and most have no view at all (with the occasional exception of course).  Since it was a quiet day at the office, I looked at recent MLS sales statistics for today's snapshot of the local resort market. 
Like a lot of places, Kohala Coast real estate sales were hot and inventory was extremely limited through late 2005. Then the number of annual unit sales began to slide.  But, as inventory and selection have improved, the median South Kohala sales prices have continued to rise.  Because this is counter intuitive, each month I look at the statistics to try to accurately follow and interpret the trend.  Through the first quarter of 2008 prices here continue ... more

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