Real estate Sales trend (Kailua: for sale, 2014, foreclosure)

[declfi42]

what Has happened in the 2nd half of 2014 . The house sales have collapsed. Why?

http://www.trulia.com/real_estate/96740-Kailua_Kona/market-trends/[/url]

[OpenD]

What's your source for the chart? Forum rules require permission, and a link to source.

But in a general way, it may reasonably inferred that between Tropical Storm Isebel and the Lava Flow emergency, a lot of people have become discouraged with Big Island living.

[declfi42]

Trulia

[whtviper1]

"House Sales" as you put it is not a good reflection on a housing market.

A reason for could be low inventory - you tend to have a lower inventory in a rising market. Low inventory means lower "House Sales".

Going back to Trulia -

It states:

Average price per square foot for Kailua Kona HI was $370, an increase of 23.3% compared to the same period last year. The median sales price for homes in Kailua Kona HI for Sep 14 to Dec 14 was $449,000 based on 47 home sales. Compared to the same period one year ago, the median home sales price increased 18.9%, or $71,500, and the number of home sales decreased 50%. There are currently 511 resale and new homes in Kailua Kona on Trulia, including 132 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Kailua Kona HI was $1,308,479 for the week ending Dec 03, which represents an increase of 0.8%, or $10,164, compared to the prior week.

Kailua Kona, HI real estate overview - Trulia.com

While not as robust as some of the other islands - it is definitely a rising market.

[declfi42]

Here is the median Sales price and it is also looking like it is turning down. Why?

http://www.trulia.com/real_estate/96740-Kailua_Kona/market-trends/[/url]

[Dreaming of Hawaii]

I am only making some assumptions loosely based on personal experience, so here goes.

The home sales in Hawaii generally trail the mainland, and the Big Island trails behind the more populated islands. We have seen an increase in sales in the lower-to-mid-priced housing on the BI, even down here in our rural area of Ka'u. Perhaps what you see in the Trulia chart is an indication that home sales have gone down because the houses that are left are higher priced and there's just not the market for higher priced homes?

also, I don't necessarily trust Trulia's information. There's a realtor in Kona who posts island-wide sales figures, and the next time I see those I'll ask his permission to report his report here. I think you'll find his layout, which reports total number of sales, average sale price, and median sale price, to be much more informative.

Currently, out of about 300 homes in our subdivision, there are only about ten on the market.

[declfi42]

So what your saying is That reasonably price housing is selling? So there is a ton of over priced housing on the market that is not selling?

[OpenD]

Originally Posted by declfi42

Trulia

Here's the notice that Trulia has on their website: Copyright © 2014 Trulia, Inc. All rights reserved.

And here's the headline from the Terms of Service here...

Terms of Service: Use descriptive titles, no advertising, no copyrighted material, post in the correct forum/sub-forum

https://www.city-data.com/forumtos.html

[hotzcatz]

In our area, it's hard to find a nice house for less than $250K - $300K. There's not a lot of inventory, either. A friend just bought a house last week so I've been helping her look. She finally found one, but it was a private sale and won't show up in the MLS listings.

[declfi42]

Nobody has explained why The # of home sales has plummet lower than the Lowest recession Year.