July 21, 2017||Mortgages/Economy/Market

Trend Watch: How’s the Market in Hawaiian Paradise Park?

The property pictured above, MLS 603685, is a Hawaiian Paradise Park home—15-1838 21st Ave—listed for sale at $480K by Rose Delfin and Nova Leyva of Clark Realty’s Hilo Orchid Isle office. The property has an accepted offer and is currently in escrow.

2005–2017 Median Price Trend for Home Sales in Hawaiian Paradise Park

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The median sale price of a single family home in HPP has been steadily increasing since 2012 but has not quite hit the peak reached in the first quarter of 2006 when the median price reached $327,000. In the first two quarters of 2017, the median sale price was $250,900 and $275,000 respectively. The highest quarterly median price in recent years was $278,200 in Q4 of 2016.

Pace of Home Sales in Hawaiian Paradise Park

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According to data from Hawaii Information Service, the average number of homes sold per quarter in Hawaiian Paradise Park from 2005–2017 is 47. Since the beginning of 2005, the most homes sold in a single quarter was in Q3 2005 when 88 properties closed escrow. This year, 63 homes sold in Q1 and 64 homes sold in Q2.

REO Sales in HPP

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Data from 2009–2017 shows that REO sales have averaged approximately 8 per quarter during that time with a peak in Q2 2010 at 19.  In 2017, there were 10 REO sales in Q1 and 9 in Q2.

Explore HPP Homes for Sale

View all homes for sale in HPP priced up to $275K

View all homes for sale in HPP priced above $275K

View all REO homes for sale in HPP

Additional Resources

Click here to view the full 2016 HPP Market Update

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