In the first quarter of 2019, the median sale price for a home in Waikoloa Village was $610,000 (up nearly $100K from Q1 2018) with 24 homes closing escrow through the end of March (three more than in Q1 2018).
This is the first time since the third quarter of 2007 that the quarterly median sale price has exceeded $600K. In Q3 2017, 25 homes were sold in Waikoloa Village with a median sale price of $605,000.
According to data from Hawaii Information Service, the average number of homes sold per quarter in Waikoloa Village from Q1 2005 through Q1 2019 is 27.
Year-over-year, Q1 2019’s median price of $245,000 is up from $237,000 in Q1 2018 and significantly higher than Q1 2017’s $183,750.
Historical note: 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.
The average number of condos sold per quarter in Waikoloa Village from Q1 2005 to Q1 2019 is 16. Narrowing down the range, the average number of sales per quarter since January 1, 2017 is 21. The first quarter of 2019 saw an uptick with 30 condo sales.
*Note: Sales data for this post was pulled using a map search encompassing all subdivisions in the Waikoloa Village community.