In South Kohala, single family home sale prices range from entry level $200,000 homes to multimillion dollar homes in exclusive resort neighborhoods. I do not usually lump them all together, but because I wanted to look at the past three years, I thought it would be interesting to see the average sale price of all homes.
January through October 2011 Kohala Coast condo sales are up 36.6% and prices are down 7.7% over January through October 2010.
Third quarter 2011 Kohala Coast condo sales are up 25.5% and prices are down 9.1% over third quarter 2010.*
October 2011 Kohala Coast condo sales are down 36.4% and prices are down 29.8% over October 2010.
January through October 2011 Kona condo sales are up 9.4% and prices are down 21.8% over January through October 2010.
Third quarter 2011 Kona condo sales are up 5.5% and prices are down 9.1% over third quarter 2010.*
Lawrence Yun, the National Association of Realtor’s Chief Economist, said last month that homes sales will rise this year. Well, those of us familiar with Kona and Kohala Coast real estate here on the Big Island took this as old news. Real estate isn’t just local, these days it is hyper-local. What’s happening in Puna is completely different than what’s happening in South Kohala. When I talk to mainland residents looking to buy a vacation home, they often incorrectly assume what’s happening in their local market is what’s happening in our market.