Kona Kohala Blog

Where the real estate market is going on Hawaii Island is anybody's guess.  Island wide Single Family Residence (SFR) sales are up 45% and condos are up 25%.  Median price is down <12.57%> for SFR's and up 27.28% for condos.

In South Kohala, the sale of SFR's are down <14.29%> and condos are up 400%.  It's not quite as dramatic as it sounds because there was only one sale at this time last year and in 2010 we've had 5 sales.  The median price for South Kohala SFR's is down <33.78%> and condo prices have dropped <50%>.

In North Kona, SFR sales are up 185.71% and condo sales up 36.36%.  The median price for SFR's is down a mere <4.33%> and condos down just <4%>.

It could be a good year if the children in the White House and the congress will quit fighting and work on the employment situation.  Obama has made a small step in the right direction by offering small businesses $5,000 per hire tax credits.  That's a good short term move but we need long term changes also, credits that will encourage business to invest in equipment and software, especially that made in the U.S.A.

It appears that we have pretty much run out of first time home buyers.  Some of the best properties on the market have been scooped up and we're left with some less than attractive pieces out there.  More is coming on all the time but our inventory is down from where it was just a year ago.

There is much to be revealed in the first quarter of this year.