May 14th, 2017 10:54 AM by Korby Matsen
Waikoloa Village is a community located 6 miles inland from the west coast of the Big Island of Hawaii. This lovely community covers over 19 square miles and is a mixture of condominiums and single family homes. Waikoloa Village offers its residents wonderful amenities such as an 18-hole golf course, a community swimming pool and tennis courts.
Also within Waikoloa Village is the Waikoloa Highlands Shopping Center, which contains many shops and restaurants, including the Waikoloa Village Market, Island Lava Java and Pueo’s Osteria Italian restaurant. With its proximity to the world famous resorts and world class beaches, Waikoloa Village is an affordable alternative for the savvy buyer looking for their Hawaiian Dream Home.
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At the time of this writing (May 10th), there were 32 homes and 35 condos for sale in Waikoloa Village. Of the homes for sale, the highest price one currently on the market is listed at $799,000, and is located at 68-1878 Kaupapa Place. There are two condos on the market that are tied for the highest priced, they are both listed at $399,000 and are located at Waikoloa Fairways B215, and Waikoloa Villas G102 respectively. At the other end of the spectrum, the lowest priced home on the market is located at 68-1895 Ua Noe St and is listed $439,900. While the lowest priced condo currently on the market is listed at $164,000 and is Unit I208 in the Fairway Terrace.
When it comes to sales in the 1st Quarter, the number of homes sold, as usual, outpaced the number of condos sold. In the time from January 2017 through March 2017 there were 24 homes sold in Waikoloa Village, while 14 condos were sold. Of the homes sold, the highest priced one was located at 68-3766 Kimo Nui St at the sales price of $764,000, from a list price of $779,000. The highest priced condo sold for $245,000, from a list price of $255,000 and is Unit #224 at the Paniolo Club. The lowest priced home to sell during the 1st Quarter was a home located at 68-1814 Pau Nani St that had a sale price of $334,900, from a list price of $344,000, while the condo with the lowest sale price went for $136,000 from a list price of the same amount, and was located in, once again, Fairway Terrace, Unit M204.
Analysis: Sales in Waikoloa Village continue at a fairly brisk pace. Although the overall inventory of homes has been reduced in 2016, as opposed to 2015, homes are coming on the market as fast as they are being sold, which is keeping a downward pressure on prices. With the absorption rate continuing to average at 4 months, the Waikoloa Village market continues to be in the equilibrium between a buyers and sellers market.
If you are looking to buy or sell a home in Waikoloa Village, or anywhere on the Kohala Coast, contact me today. I will help you make your Hawaiian Real Estate dreams a reality. Mahalo
Highlights of the Q1 Waikoloa Village Market Update
If you enjoyed this update, you may like Waikoloa Beach Resort Market Update for Q1 2017.
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