And yes, they are correct (don’t ask me why I sound surprised)...
Our market is on FIRE ! Hi, Lance Owens (RS) here with LUVA Real Estate, Kailua Kona, HI.
Let's talk about Hawaii Real Estate (Kailua Kona), with someone who knows, lives, breaths, and is a part of those numbers. And when we do, we will use Hawaii Information Service - Market Reports (not some mainland "super cruncher - Zillow - did I just say that?) (Trulia - I didnt just say that too?) Ok, enough poking fun.
Last month, April 2013 was a few sales short of 2012, (-8.7%) but don't let that fool you .
2012 we had a little over 300 homes actively for sale in Kailua Kona, as of right now; we have a grand total of 188 active listings, almost a 50% decrease in active listings.
2013 had 42 home sales,
2012 saw 46 home sales, with almost twice the inventory.
Let's go back a little further (April sales)
2011 = 38
2010 = 41
2009 = 20
2008 = 36
2007 = 30
Without wasting to much time, I had to go back to 2006 to get to
2005 saw 47 - (again all references here are for
Let's talk about the bottom line
2012, with 47 sales, saw $20,000,000.00 in sales
2013, with 42 sales, saw $36,000,000.00 in sales
Want to know something that goes a lot deeper that what you see here?
Look at this
2005 - the year we all think was the peak, had 47 sales,
Any guess on how much money exchanged hands for that month?
According the to the Hawaii MLS --------------------- $38,000,000.00
That puts us just shy, by $2,000,000.00 !
As crazy as that number seems, 2006 actually had $43,000,000.00 exchange hands.
Back to this April:
We are talking a 78% increase in the amount of money exchanging hands, 4/12 & 4/13 - no adjustments, black and white numbers.
My tag line for my 2013 reports. 2013 is making 2012, look like 2004 ! (FYI - 2004 saw 58 sales worth $34,000,000.00 )
Give me a call sometime and we can set up an appointment to sit down, and help you understand what this means to you.
Lance Owens (RS), 808-936-8383