Livin Aloha – Kona Kohala Real Estate

Feel the Heartbeat of Big Island Real Estate with Principal Broker, Greg Gerard

Our Most Current Real

Estate Market Insights

Our Most Current Real

Estate Market Insights

Community Report 6/25/2020

 

These are challenging times we all agree. As one looks out from wherever they are, several things seem apparent. Our personal joy and security is more under stress than most of us can remember in our lifetime.

 

Well here is some good news.

 

Hawaii has the lowest negative COVID-19 statistics in the nation, along with Alaska, making Hawaii not only an and inspirational place but obviously much safer than so many other places.

 

Another especially important aspect of life these days is that the “Aloha Way of Life” is prevailing in stark contrast to the unrest in many other parts of the nation, as we seek to be peaceful and loving. The nightly national news is most unsettling. I’m so grateful that here the people of Hawaii have been able to maintain respect for one another while expressing deep concern over obvious injustice.

 

So I hope you can take heart, if you’re looking for a place to be at peace.

 

If you’re not here already it’s still a good idea to refresh your mind with a good goal to pursue. When I can help in any way, I’d like to talk with you.

Look at the YouTube video on the home page it should refresh your spirit.

 

Market Report 6/15/2020

 

  1. The latest data from Hawaii Information Service for N. Kona residential market shows Pending sales are down 24% from last year.   This is an improvement over the past two weeks when they were down 33%. Twelve-month sales are now about the same as a year ago.  Average and Median Sale Prices are showing a strong year over year increase.    Median Price for homes sold in the past 12 months, priced up to $4.0M now stands at $685,000.
  2. The price range data at the top of page 2 and the pie charts   clearly show what is driving the substantial increase in price.   Low inventory and low sales numbers in the price range below $700,000.     The big year over year change from the pie charts is the increase in sales over $700,000.    The percentage has jumped from 41% to 51%.
  3. The Hawaii Island Residential Pending Ratio has rebounded sharply in the last month.  West and East Hawaii both increased.
  4. The Charts 5 and Chart 6 related to the distressed property trend will now only be updated quarterly.
  5. The Condo stats show increased inventory and a decline in Pending sales.    Like Res. the Pending sales numbers have improved since last report.   Chart 7 shows the uptick in Pending Ratio.     The Median Price trend is showing slight decline since March.      Thirty-day sales are off 56% from last year.
  6. Land stats are showing a modest an uptick in Pending Sales and Median Price in Chart 9.    Year/year annual sales are the same as last year.
  7. Page 6 is the Pending Ratio Summary page.    This page offers a quick glance of the Pending Ratio trend for N. Kona Res., Condo, Land and  Hawaii Island.   This table shows improvement from last year and since last month.
  8. The Page 7 Kona Residential Price chart since 1972 is updated with the new 2019 data.    This is based on a data pool of similar homes many of which are either new sales or resales over the years.   The total number of sales that make up the data pool is over 7,644 in the 23 subdivisions in the study.  The result shows the 2019 average price was  (plus six percent +6%) or $650,900.
  9. The Kona vs. West Coast Report will be updated in the next report.

 

The contents of this report is attributed to the professional efforts of my friend Michael B. Griggs, RB, GRI

 

Community Resources - “Contact me for more information related to any of these areas of interest.”

 

Professional Services

Favorite Vacation Rentals

Home Inspections

1031 Exchanges

Escrow Company

Lending Services

Certified Public Accountant

Attorney

Favorite Charity

Volcano Update

 

Ocean Sports, Fishing & Water Activities

Sport Fishing

Snorkeling

 

Culture in the Arts

Merrie Monarch Festival

Kahilu Theatre The Cultural Heart of Waimea

Mele.com Hawaiian Music Events Hawaii and Worldwide!

 

Business & Information

Kona-Kohala Chamber of Commerce

Recommended Reading/ Big Island Publications

Hawaii Business

 

Cultural

Hawaiian Language Primer

Kona Historical Society

Hawaiian Cultural Links

Hawaii Visitors Bureau

 

Newspapers & Television

West Hawaii Today

Hawaii Tribune Herald

Pacific Business News

The Honolulu Advertiser

The Honolulu Star-Bulletin

 

Government

Animal Quarantine Information

County of Hawaii

DBEDT Latest Data & Forecast – State of Hawaii Dept. of Business, Economic Development & Tourism Research and Economic Analysis Division

 

Education

State Department of Education

Hualalai Academy

Hawaii Preparatory Academy

Parker School

 

Medical

Five Mountain Medical Center

North Hawaii Community Hospital

 

Shipping

Matson Navigation – shipping your car

Phone: (808) 987-7720

E-mail: greg@aloha-kona.biz

Kona-Kohala Realty LLC

RB-22604