Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the monthly market reports and, No that's not a typo, in fact to be exact West Hawaii home sales are up 88.46% , and island wide home sales show an increase of 17% . Crazy numbers... right?
This is exactly why you need a "feet on the ground" Realtor to help navigate you through numbers that don't make since..... I am sitting here laughing, Zillow must be losing their mind right now looking at these numbers.
Anybody that has followed me and my market reports for the past 15 years know how "seasonally" adjusted figures drive me crazy.... to the best of my knowledge it was Summer last July, and its pretty warm out today, so I am going to go out on a limb and call this July, "Summer" also?
Well occasionally there is that one curveball that needs to be adjusted for, and last July is that curveball, 112 miles away from Kailua Kona, there was a well known area on the Big Island that was labeled "Lava Zone 1" since many of you don't live in a lava zone, you probably wonder what that means, well in short, layman's terms, if lava isn't flowing there now, it will be at some point! So Madame Pele did as Madame Pele does, she let lava flow where it is supposed to flow. Why the county of Hawaii gave building permits in these areas is beyond me, but they did. I think we all know the rest of the story, a few months later the lava stopped, the skies cleared, and amnesia has settled in.
So lets take a look at a little more accurate number, I had to do what I hate to do, but I "seasonally" adjusted this time, for a "non lava" season, which took me back to July 2017, and when I compare 2017 home sales to 2019 home sales, Kailua Kona, I show a dip of , we had 50 sales in 2017, and 49 sales in 2019 - I feel safe in saying that we are doing well here in Kona,
Hope you enjoyed this months market report, for a black and white copy, non seasonally adjusted version, please head over to my website or just click the report near the bottom and
In the meantime I am putting in a shameless plug for my new listing, Keauhou View Estates 3 bedroom 2 bath listed at $625,000