Kailua Kona Condominium Report for September 2015
News for both Buyers and Sellers: October 7, 2015
MLS sales report shows an increase in the number of condos sold by 4.55% , and a slight decrease in condominium prices YTD .
If you are considering buying a condominium you can still find deals, but having a good real estate agent who understands the market is a must. If you price it right, it sells right away, sometimes with multiple offers, but if you overprice it, the market is not there, where buyers are willing to overpay. To make sure you don't overpay or overprice it, you'll want an agent that does a thorough market analysis of the Kona Condominium Complex, and surrounding area, on which you are making an offer on.
Here is a chart of September 2015 and Year To Date numbers:
(Big Mahalo's to the team at Old Republic Title Kona for supplying the graphs)
West Hawaii (Kailua Kona) Real Estate Report Summary
Last month there were 23 available in that price range, so we have a small decrease in available condos.
High inventory will suggest that Condos are sitting on the market for longer. Low inventory will drive prices up - as we sit right now, the market is hard to call - numbers up, prices down. My "feet on the ground gut feeling" tells me prices will go up more as our busy season arrives (winter is our busy season)
If I run all condos for sale, they are 193 (up from 176), ranging from $35,000 (LH) to $5,695,000 (FS).
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With that report in, let me leave you with the DEAL OF THE DAY !
Bank Priced Short Sale, listed at $145,000, Kailua Village unit 404, 1/1 with ocean views - vacation rentals are allowed and it is near the Kona Pier (Ironman start/finish line) . We expect multiple offers when it is released this week.