Editor’s Note: This post is the 2nd in a series of 2014 year-end market reports. Click here to see all posts.
It hardly seems possible but the holiday season is here and there are only a matter of weeks left in 2014!
As we approach 2015, we are taking a look at neighborhoods around the Big Island to see what the data shows for 2014 market trends. For the Big Island as a whole, the number of residential properties that have sold this year compared to last is about the same (1742 this year compared to 1766 last year, through 12/9), but the median price of homes has increased from $295,000 in 2013 to $316,750 so far this year.
In Central Kailua-Kona, which is the area between Kailua Village and Keauhou Resort going from the seashore to Hualalai Mountain, that trend holds true. Central Kona is the main population area of West Hawaii and offers many convenient options for shopping, dining, entertainment and ocean access. There are a variety of homes and neighborhoods to choose from oceanfront condos to lush green estates with sweeping coastline views.
Central Kailua-Kona market snapshot as of 12/9/2014:
Homes currently for sale: 111 (see active listings here)
Homes currently in escrow: 37
Homes sold since 1/1/2014: 244
The median price of homes sold to date in 2014 in Central Kailua-Kona is $570,000 (up significantly from $496,000 for the same period in 2013).
Average number of days a property was on the market before the close of escrow so far in 2014 is 54, which is actually one day longer than in 2013.
The current average sale price to list price ratio is 97.4%.
If you are looking to buy a home or condo in Central Kailua-Kona, please contact me for more information about neighborhoods that might suit you. I specialize in this market, where I also live, work and play. If you are preparing to sell, I can also provide more detailed market data for your community and work with you to develop a marketing plan specific to your property. If you aren’t ready to buy or sell at the moment, I still invite you to visit my website konarealestatenow.com, where I will be posting neighborhood specific 2014 market data beginning early in the new year.
Aloha and Happy Holidays to you and your ohana!