OK, I don't think the question anymore is - when will it be over, the question is when did it actually end? I know, the prices are still falling some, but with demand on the rise now for 12 straight months - its more than just a bubble - its a trend. In fact - you have to go all the way back to 2006 to find the Month of April with more sales than this April, and that only beat it out by 2 homes. (Based on Home Sales - Kailua Kona)
Condos - Up 92% over last years numbers, also surpassing 2008 number of sales, and just 5 under 2007 numbers - another trend - not quite 12 months straight, but still a good year, compared to the last couple of years.
Land Sales - up 140 % over 2009 land sales - in fact - I have to take you all the way back to 2006 to find these kind of numbers again - in fact if you skip 2006 numbers and go back to 2005 land sales - 2010 beat it out!
Anyway, you can see for your own eyes - go to my webpage below, click on the tab that says - MLS Market Report - on your left, and that will take you to all the reports - number of sales, dollar volumes, median home pricing, you got it all.
Aloha, and have a great day
Lance Owens (RS)
Aloha Kona Realty Inc.
78-6740 Alii Drive