Kona Kohala Blog

Our condo market in Sout Kohala has almost come to a stop.  We've been talking about a slow market but this is an almost unmoving market with just one sale to date in 2009.

It's not because prices are too high and it's not because there isn't plenty to choose from and it's not because interest rates are too high so what is going on?  Any thoughts?

There are 357 condos for sale in all of South Kohala and another 379 in North Kona.  Prices are still on the way down albeit slowly.  I expect prices to continue downward for another 6 to 12 months depending on the results of the various stimulus packages and recovery plans going into effect in the next few months.  After that, we should see our prices stabilize and hold at that bottom for may be another year before the economy rebounds enough to eat away at this suplus of property on the market today.

Now is a good time to shop even if you're not ready to make that move.  There are some very good deals out there, some of which we are high lighting in our weekly newsletter, Aloha Friday.  If you'd like to be on the mailing list, email me at Robert@FerrariPacificRealty.com and you'll get the next issue hot off your screen.  aloha