A very active market
April Updates
The activity in North Kona is certainly active. While homes are sitting a bit more on the market, if the price is right they are selling. The end of the quarter for market activity in Kailua Kona saw the highest closings since September 2022. We have lots of properties currently under contract ( even higher than in March). Historically, April experiences the highest closings each year, so I believe that we are on for a great year. Inventory is still tight and demand keeps driving these sales. To provide you with more context, we are down 184 sold properties for the first quarter, compared to 290 last year. Sellers are rethinking to sell their properties and the buyers that score the 2.5%-3% interest rates are not in a rush to sell this year.
Mainland buyers are coming to the island in order to relocate and enjoy this beautiful island weather. For most, they come cash-heavy as they are opting to do tax-deferred 1031 exchanges resulting from the sale of their property on the mainland. Although there may not be much inventory available right now, properties are still selling.
So what to do?
If you are a seller call me as this market is changing rapidly and you need a strong partner to navigate it. Pricing your property properly and at market value will take you to your next goals but you need someone that can provide you all avenues to know how to proceed.
If you are a buyer, multiple offers are still a thing so be ready! I put offers this month for clients on multiple offer environments and I can tell you that you need someone heavily on it so that you don’t lose.
If you are cash – your chances of getting the property that you want are very high.
So to summarize, the housing market is still stable but correcting a bit. Demand is high, inventory is low. ( the usual theme for property in Hawaii)
# of Sales on The Big Island of Hawaii – April 2023
161
165
62
News and Economy
April Updates
The Fish Hopper
I had the pleasure of speaking with Dane, the manager of the Fish Hopper in Kailua Kona Click on the video to see the post.
Made with Love❤️
Property Highlight
75-5778 Kaila Pl,
Kailua-kona, HI 96740Fixer Upper property in Kailua Kona
Purchase Price: $825,000
This home has so much potential. Truly a diamond in the rough❤️ This home is currently contingent but if you need more details, let me know!
Property Highlight
Here is a video that highlights
73-1181 Mahilani Dr
Top 5 favorite things about this property
If you need more information about this property. This beautiful home is currently under contract but taking backup offers. Please feel free to send me an email directly ❤️ Buyers due diligence package available upon request.
Kona Playgrounds Foundation
Exciting news from Kona Playgrounds Foundation ❤️ Picnic tables will be installed in this park very soon and our painting project is almost completed! 🙏 Thank you to everyone who has supported these efforts! Mahalo for donating and supporting our projects! This means so much to us 🙏 Thank you to Sherwin-Williams and PPG Paints for helping us beautify the park! Huge Mahalos to Takeru Tanabe for helping us install the cement pad and Thomas Clement for all of your guidance and help with painting the park.
For more information about our efforts please feel free to visit:
https://www.konaplaygrounds.org
– Maly
”“If you want to do something great, do it now. The time will pass, and you will not have the chance again.”❤️
Maly RomeroReal Estate Consultant