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Aina Nalu Sales Statistics - Year End 2011

By
Real Estate Agent with Aloha Realty Group

 

Aloha from your resident experts!

From Jan 1 to December 31, there were 35 listings (3 were short sale and 8 were REO/bank owned). Out of 35 listings, 5 were taken off the  market or expired, 17 were sold, and 1 was pending at the end of the year.  At year end there were 12 active listings.

Aina_Nalu_Sales_EndofYear_2011

 

2011 has been a year of extremes—from the lowest priced sale for a 2/2 unit at $205,000 in February to the highest closed sale for a 2/2 at $325,000 in November.  The reasons for the extremes are differences in seller’s and buyer’s situation/motivation, location and condition of the units, and timing.

The low was bank owned with no furniture and a quit claim deed;  the high was nicely furnished and in one of the best locations overlooking the large pool and pavilion and with a mountain view.

This year, 17 units have sold and 1 is in escrow at year end, compared to 14 sales in the year 2010.  With 12 active listings we now have a little over 8 months’ inventory.

The number of distressed property listings has dropped.  Currently we have one short sale listing (1/1 unit) and one bank owned unit (2/2 unit).  We are seeing an improvement in prices since there are fewer distressed property listings, with all 2/2 units but the bank owned unit being priced over $300,000.

Of the 17 units that closed in 2011, nine were listed or sold by Aloha Realty Group; of those, 7 of the 17 sales were bank owned and 1 was a short sale. In Q4, there were 3 closed sales—none were distressed properties, and one was listed by Aloha Realty Group.

Current asking prices for 1 bedroom units range from $210,000 (upstairs) to $359,000 (downstairs). Current asking prices for 2 bedroom units range from $280,000 (for a 2/2 bank owned unit in the I building) to $375,000 (for a 2/2 downstairs unit in the D building).

We wish you all a healthy, happy and prosperous 2012, and we are expecting a great year at Aina Nalu from the sales side!


 

 

 

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