Kona Kohala Blog

So good to be back.  Just spent 7 days in Oregon where the temps got into the 100's.  Not bad if you're staying inside or on the river somewhere but standing on a roof replacing shingles was not the place to be. 

Meanwhile. Pele continues to rumble but not erupt meaning clear air and clear skies for the Kona side.  Blue blue skies and seas, truly paradise to the eyes.

Real estate remains slow but steady with price continuing their downward trend as buyer wait on the sidelines hoping always for the best price.  Today, mid way through July (already) North Kona number of sales Year to Date are down 23.62% for Single Family Residences (SFR's) and down 44.06% for condos.  The median price for a SFR is $605,520 in North Kona and a condo here is $394,950, down 7.26%.

In Waikoloa Village there are 42 SFR for sale and 4 in escrow giving us a 10 month inventory, a buyer's market.  There are 46 condos for sale and 7 of those in escrow, still a strong buyer's market here as well.

Where do you think this is going?  Should buyers wait out the market or is it coming close to the bottom?