Kevin Lewis, Prudential Real Estate Agent

Kevin E. LewisRealtor®

Clark Realty Corporation - Orchid Isle

 

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Big Island Hawaii Real Estate Market Report

 

 

Big Island of Hawaii

Hilo - Hamakua - Puna - Kona - Kohala - Kau

How Much Do Homes Cost in Hawaii?

Get More For Your Money on the Big Island of Hawaii

 

Hawaii

$300,000

Kauai

$650,000

Maui

$595,000

Oahu

$700,000

 

Median Sales Price - Feb 2016 - Title Guaranty Hawaii

December 2015 Sales - Hawaii Information Service Inc.

 

 

Hawaii County real estate sales

Hawaii County

Hilo real estate sales

Hilo

Kailua Kona real estate sales

Kailua-Kona

Pahoa Puna real estate sales

Pahoa

Click on Above Graphs for Hawaii Real Estate Market Median Home Price Trends Information, by On Board LLC

(Note: The last quarter on the graph is often only partial information.)

 

 

How is the Big Island Real Estate Market?

 

Big Island Hawaii home and land sales and the median home sale prices continue to show that our local market is in a slow recovery. There are still Buyer's Market opportunities, they are just getting hard to find. The volume of inquiries from potential Buyers show there is strong demand for Big Island real estate. The question is when enough Buyers will make their move... creating the next Seller's market! 

 

The Hawaii real estate market was affected by the West Coast real estate correction a few years ago. We saw median home prices fall about one-third from our all time highs. The recovery in the stock market, historically low interest rates, and an improving local economy have all helped the Hawaii County housing market. Vacant land prices, which corrected as a result of too many Sellers cashing in profits and too few Builders or Investors buying land, also are showing signs of recovery. The long term economic outlook for all of the Big Island of Hawaii remains positive. The real estate market on the Big Island Hawaii should continue to improve this year.

 

Buyers are always looking for a "good deal". Many who are buying properties today are planning for an early Hawaii retirement or for investment understanding that real estate markets are cyclical. My survey of recent sales show that sale prices average about 94% of asking prices. We are seeing a lot of cash sales these days.  I don't see cash sales getting a bigger discount, but your offer will look better when you can close in 30 days instead of 60 days for a loan. "Contingent Upon Sale" and "Low-Ball Offers" are rarely accepted in our market. Inquiries from want-to-be residents continue to keep many of us agents busy, so we know the demand is there. Buyers who wait too long trying to time the market may find themselves saying, "I could have, would have, should have..." bought when it was a Buyer's market!

 

Sellers are saying "I didn't get as much as I wanted, and it took longer than I thought - but I sold!" The prices of Big Island real estate sales are still below our all time highs, but the number of sales have been within our 10 year average. My recent count show a range of 20% to 25% of the residential properties on the market in escrow, and about 5% to 10% of the vacant land parcels in escrow. It's worth it to put the property online if it is priced right. It's the "Lets try 20% above the market recent sales to see what happens" that disappoints Sellers when their property does not sell as fast as they would like.

 

Attitudes are changing about the improving Hawaii economy and real estate market. This should help 2016 be a good year for Big Island Hawaii real estate sales.

 

Kevin E. Lewis is a Hawaii licensed real estate agent with Clark Realty Corporation, located on the Big Island of Hawaii.

 

 

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Need a real estate agent on the Big Island of Hawaii? I'm glad to help! Kevin E. Lewis

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Mahalo for visiting my Big Island Hawaii Real Estate Website! Kevin E. Lewis, Realtor® RB-18141 Clark Realty Corporation - Hilo Orchid Isle, NOBODY Knows the Big Island Like We Do!™
Disclosure: The information contained on this website is from various sources that are considered reliable but cannot be guaranteed. I may receive a small commission from products purchased thru links on this website.

 

 

Clark Realty Corporation