2020 is more than half way behind us. Believe it or not, although real estate “traffic” was way down in the resort areas down this year due to the pandemic, properties that were on the market did pretty well… with a caveat: Higher priced properties with space, privacy and open amenities were favored by buyers.
We have quite a few “visitors” who have decided to move here. The ability to work from home has opened our family housing market up nicely.
The chart below is a bird’s eye view of comparative sales for the Kohala Coast resort area since Hawaii went on lockdown. The dates I chose were May 1 thru Aug 31. Included in the data are houses, land parcels in addition to condos.
Where are your buyers? Adjacent to the stats for each resort, you can see the breakdown by state of where buyers reside. There is no surprise here as most of our buyers hail from the Western States and Canada.
Sales Volume, as you can see is down, but sold prices are higher on average. Days on market are also lower.
Sold/Ask ratio is a percentage of the sales price as compared to the ORIGINAL listing price. Yes, a lot of Sellers try to list “high”thinking that they will get lucky, only to find that they need to make a price reduction. I use that number as a reflection of the full price range, no matter how “optimistic” the starting price.
Return on Investment…
Thinking of selling your resort home? Are you wondering if you should sell or upgrade and hold? Perhaps you are interested in exploring the possibility of more space, a bigger view, etc?
Call Helen Levine (808)494 – 0050