Longer Days on Market
The exciting news for buyers is that we are in a market that is ready and open for negotiation. Sellers continue to make concessions in order to meet buyer demands.
If you are following the market closely, you will see that properties are starting to sit a bit longer on the market while inventory increases. In my eyes, Hawaii will always be in demand for multiple reasons. At the moment, properties are still selling and will continue to sell. At the moment, some properties are just taking a bit longer to close due to the correction that is currently happening in our market.
What is more noteworthy is that we are seeing a decline in cash closings. This trend is typically tied to a market that feels a bit volatile.
As an example, the third quarter for residential home sales in West Hawaii reported 15 sales in the $900k – $1M and only 8 sales in the $1m – 1.2m range. Do you remember previous months? The first quarter reported 15 sales between $1M and $1.2M and only ONE sale between $900k and $1M. Things are shifting…
So what to do?
In order to navigate this market and create a plan of action, I highly recommend that you get in touch with me so that I can assist.
# of Sales on The Big Island of Hawaii – October 2022
169
163
36
News and Economy
October Updates
Pualani Estates
NEW MUSICAL EQUIPMENT IN PUALANI ESTATES!
Pualani Estates – Blue Park
It has been a year since I founded Kona Playgrounds Foundation and I am so excited to share with you that we have made amazing progress at the park! Myself and our board of directors are so pleased to announce that we have installed new musical equipment at the park. We have received so much positive feedback in regard to this new upgrade. We have ways to go, and we are planning to continue to fundraise to upgrade the surfacing. To learn more visit us at www.konaplaygrounds.org
Property Highlight
Hawaiian Paradise Park
Beautiful property in HPP
Asking Price: $565,000
Congratulations to our buyer on purchasing this beautiful property in HPP❤️ She was assisted by my referral partner Michael and we are beyond excited for her!❤️
Hawaii Keiki Museum
The Hawai‘i Keiki Museum is a 501(c)3 non-profit corporation that has been working with the Kona International Marketplace to open an interactive children's museum. Community members can stop by their new Gift Shop. Your support and donations are essential in making this project thrive. This is a place where kids get excited about science and I cant reccomend this place enough!
Humpbacks are back with whale breach off West Hawaiʻi coast
Humpbacks are famous for their long migrations between feeding grounds and breeding destinations, but it is perhaps the number of females that journeys to Hawaii each year. The NOAA Office reports as many 12 thousand humpback whales make this journey; where they give birth before returning south again with young ones in tow!
Humpback whale season in Hawai‘i typically runs from November through May, with the greatest abundance reported between January and March. Experts say whales may be encountered in small groups during other months.
”When your thoughts match your actions is the most rewarding thing in the world 🤙 Continue to dream and act on whatever you are wishing to happen. ❤️
Maly RomeroReal Estate Consultant
