Kona Kohala Blog

June is turning out to be one of the slowest months in real estate in the last 8 years.  In South Kohala, the number of sales of Single Family Residences (SFR's) are down <41.67%> compared to last June and down <27.93%> year to date.  Condos are down <53.13%> and <41.77%> year to date.

In North Kona, the number of SFR sales is down<46.81%> for June and <21.38> year to date.  Condos are faring a little worse than up north with the number of sales for June down <60.98%> and <41.03%> year to date.

Median prices continue to make their corrections downward in North Kona with year to date figures of <6.62%> for SFR's and <8.47%> for condos.  South Kohala is bucking the island wide trend with median price increases of 4.57% for SFR's and 23.24% for condos.  Much of this can be attributed to the Mauna Kea and Mauna Lani increases in home and condo sales of higher end properties.

The outlook for interest rates is that they will hold for the remainder of the year.  With the exception of fuel and housing costs, inflation looks to be under control.  Even housing costs are coming off their highs which takes even more pressure off inflation.

Look for a strong market in the fall as people become more comfortable with their personal financial situations and the draw of warm climates comes back into favor.  aloha