Well, we finally made it through 2008. It was a tough year for many and I know most of us are looking forward to beginning a new year. However, before we completely put 2008 behind us let's take a moment to look back and see what happened in a few of our markets on the Big Island.
In residential sales, the numbers stayed fairly consistent in each district. Residential prices dropped in Puna and South Hilo, whereas Hamakua and Kau saw an increase in price. In land sales, the sales remained steady with the exception of Puna and Kau. These regions have such a large area and high inventory the dip is more noticeable. Land prices went down in general with the exception of the Hamakua region.
As you can see, we still have sales happening on the Big Island. Yes, we had a volatile year, but as the numbers testify properties are still selling. So, while the market continues to adjust, Sellers have to remain patient and flexible, while Buyers need to remember that not all properties are in distress. Fair market pricing still exists and with some great incentives out there, once in a lifetime opportunities can be found.
ZIP Code: 96720 Approximate Location Boundaries: Honoka`a to Volcano
Location Characteristics: From rolling green pasture lands to the beautiful blue Pacific Ocean this area is lush and the land is graced with numerous waterfalls.
About Prudential Orchid Isle Properties:
A leader in Hawaii real estate for over 21 years, Prudential Orchid Isle Properties is the only real estate company to have attained the number one position for total sales volume in East Hawaii 8 times! We're proud to have achieved the Number One Big Island Real Estate Office ISLAND WIDE 2008 having closed the most units.
For over a decade Hawaii's oldest corporation hired us as their exclusive listing broker due to our extensive knowledge of Big Island properties. Our experience is parralleled by none. We have been known throughout the state as Hawaii's Real Estate Specialists. NOBODY knows the Big Island lilke we do! From small building lots to fine estates, commercial properties to consultation and development, Prudential Orchid Isle Properties offers local expertise with a nationwide reach. Visit our webiste often at http://.www.RealEstateHawaii.com for Everything YOU want to know about real estate on the Big Island of Hawaii. We are easy to reach and happy to assist you. Cal us toll free at 1-800-789-4753. Aloha.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
