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May 30th, 2020 10:13 AM by Korby Matsen
Waikoloa Village is a charming 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.
The Waikoloa Highlands Shopping Center is another great component of Waikoloa Village. It 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 25th), there were 18 single-family homes for sale and 14 homes in escrow in Waikoloa Village, while there were 23 condos for sale with 6 units in escrow. Of the homes for sale, the highest priced one on the market is listed at $799,000, and is located at 68-1823 Auhili St. Of the condos on the market, the highest priced one is listed at $599,000 and is located at The Pointe at Waikoloa #23. At the other end of the spectrum, the lowest priced home on the market is located at 68-1733 Akaula St and is listed at $479,000. While the lowest priced condo currently for sale is listed at $185,000 and is Unit M101 in Fairway Terrace.
During the 1st Quarter, the time from January through March 2020, there were 38 single-family homes sold in Waikoloa Village, while 22 condos were sold. Of the homes sold, the highest priced one is located at 68-2189 Laakea St and sold at for $736,595, from a list price of $685,000. The highest priced condo sold for $395,000, from a list price of the same amount, and is Unit #A303 at Waikoloa Fairways. The lowest priced home to sell during the 1st Quarter is located at 68-Makuakane St and sold for $315,615, from a list price of $353,500, while the condo with the lowest sale price went for $190,000 from a list price of the same amount, and is Unit #M202 in Fairway Terrace.
Analysis: The sale of single-family homes in Waikoloa Village spiked dramatically in Q1 over Q4 and even higher than what we experienced for all of 2019. Condo sales were less dramatic but still held their own over previous quarters. This increase in sales has dramatically reduced the inventory levels of single-family homes in Waikoloa Village. It remains to be seen how the Covid-19 pandemic will affect the market in the coming months.
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 2020 Q1 Waikoloa Village Market Update
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