OK - sales up - but whats selling ? Well lets take a look at the single family home sales, in Kailua Kona on the big island of Hawaii
$200,000 and under - 1 sale
$200,000 - $299,000 - 7 sales
$300,000 - $399,000 - 12 sales
$400,000 - $499,000 - 6 sales
$500,000 - $599,000 - 3 sales
$600,000 - $699,000 - 3 sales
$700,000 - $999,000 - 5 sales
$1,000,000 plus - 3 sales (including a $6.1 million dollar sale)
So roughly speaking, half of the sales were for under $400,000, and the other half of the sales were for over $400,000
Ok - I know your next question - how many were distressed properties - a lot - no hold on, I will go back and count them , give me a minute.
Alright, I'm back, so according to the Hawaii MLS - 17 properties were either a Short Sale, REO, Foreclosure, Pre Foreclosure, or Lender sale. Ill be honest with you, if you had asked me this question this morning in line at the grocery store, my answer would have been 60-65%. See that's why I like doing these blogs - it keeps me educated, up to date, and more accurate - we are actually under 50%. So that's another good sign for the economy.
OK, thats going to wrap it up for me tonight - take a minute to actually review all the sales below for yourself, draw your conclusion.
Regroup on that thought - I just tried to publish the MLS report and apparently it is too many characters for this blog, so if your really interested in the actual report - shoot me an email and I will send it to you.
Aloha, and have a great day
Lance Owens (RS)
Aloha Kona Realty Inc.
78-6740 Alii Drive