April 17, 2018||Mortgages/Economy/Market


Trend Watch 2018: How’s the Market in Waikoloa Village?

The property pictured above—68-1603 Hoolauna Way in Sunset Ridge—is listed for sale at $579K by Chiaki Yamada and Jacob LaPlante. As of the date of this post, this Waikoloa Village listing, which has been on the market for 28 days, has a pending offer.

2005–2018 Median Price Trend for Homes in Waikoloa Village

Waikoloa Village sales Q1 2005 to Q1 2018
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In the first quarter of 2018, the median sale price for a home in Waikoloa Village was $519,000 with 21 homes closing escrow through the end of March.

By way of comparison, in the third quarter of 2007, 25 homes were sold in Waikoloa Village with a median sale price of $605,000. The median price for single-family homes has yet to exceed $600K again in any given quarter. Last year, in the first quarter of 2017, 24 homes closed escrow with a median sale price of $550,000 so 2018 begins with the number of sales dipping slightly and a decrease in the median price compared to last year.

Pace of Home Sales in Waikoloa Village

According to data from Hawaii Information Service, the average number of homes sold per quarter in Waikoloa Village from Q1 2005 through Q1 2018 is 27.

Here’s how the data looks over time:

Waikoloa Village res sales per quarter 2005 to 2018

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2005–2018 Median Price Trend for Condos in Waikoloa Village

Waikoloa Village condo sales Q1 2005 to Q1 2008
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In early 2006, the median sale price of condos in Waikoloa Village saw a dramatic uptick due to high demand and strong sales of units in new projects such as Makana Kai at Wehilani and the Pointe at Waikoloa. In the second quarter of 2006, the median sale price reached an impressive peak of $455,000 with 47 units closing escrow in that three month period alone. In the fourth quarter of 2011, as the graph above illustrates, the bottom of the current cycle saw the median price drop to $104,500. Year-over-year, Q1 2018’s median price of $237,000 is significantly higher than Q1 2017’s $183,750.

Pace of Condo Sales in Waikoloa Village

The average number of condos sold per quarter in Waikoloa Village from Q1 2005 to Q1 2018 is 15. Narrowing down the range, the average number of sales per quarter since January 1, 2016 is 21. The first quarter of 2018 saw a small dip with 19 sales total.

Here’s how the data looks over time:

Waikoloa Village condo sales per quarter 2005 to 2018
Click to view larger image

*Note: Sales data for this post was pulled using a map search encompassing all subdivisions in the Waikoloa Village community.

View all homes for sale in Waikoloa Village

View all condos for sale in South Kohala

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