Kona Kohala Blog

Looking back over the past 6 years, from 2006 to today, both median price and the number of sales are moving in lock step, down.  Below is a chart of Median Price

You can see the bump up in 2008 in South Kohala condo prices but other than that, it's all on the decline and has been.  We talk about this extensively in the weekly newsletter that came out yesterday.  If you're not on the mailing list, you can sign up by emailing me at Robert@FerrariPacificRealty.com.  There is no cost or obligation and you can check my Privacy Policy to see that your information goes no where, you're just on my mail list for as long as you wish to be there.  When you're through just type CANCEL in the subject line and it's over.

Here's the Number of Sales chart so you can see the parallel lines running south.

If you ignore the bump up in 2010, the tendency is down with an exception in South Kohala Single Family Residences (SFR's).  North Kona SFR's shot up quite a bit and it may take more than one month to reach the level of 2009 before continuing the trend down.

Many here comment on the declining inventory but that may not be the case.  The actual number of SFR's and condos on the market is not that much changed, however, what has changed is the quality of those properties offered for sale.  Today's listings tend to be more run down, older, have more problems and in general, be less attractive than what has been selling for the past 2 years.

There are still plenty of buyers out there but they're waiting for better properties to come on the market.  Due to the price direction today, buying a fixer and flipping it or renting it as an investment property, doesn't make sense.  Even first time home buyers, those who can qualify, want a nice home to move into and that's becoming harder to find.

You need someone working for you full time to find the right property.  If you're in the market don't rely on luck, just happen across the perfect listing when you have time to search MLS, to find what you're looking for.  Contact me, finding property is what I do and I do it for BUYERS ONLY.  I am not a listing agent, I'm a buyer's broker, I represent you and you alone, never the seller so contact me today.  You can call 808-896-0661 or email me Robert@FerrariPacificRealty.com.

Either way, we can hook up and begin searching for just the right one for you.  Call me today, the market is changing fast and since there is no obligation on your part, getting started doesn't cost you a thing.