Kona Real Estate Statistics: Escrows Reflect Continued Recovery!

Mike Griggs, a fellow Realtor Broker here in Kona puts out a market report updated every two weeks, and it is packed full of valuable information!

The Griggs Report – February 29, 2012 came out late Friday afternoon and I wanted to share this great publication with my blog readers.

As the report indicates, pending sales are up! Current North Kona properties in escrow number at 114, up 17 from a month ago! A huge indicator in this statistic is that this level of escrow activity was last seen in the recovery cycle of 2001.  I like it! To better put that in perspective, at our current cycles low point in 2008, North Kona had 26 homes in escrow. Yikes!  Any idea which way we are heading?

We have a classic example of supply and demand shaping up in West Hawaii. As Kona’s residential inventory decreases with demand staying strong, you can certainly expect increased pricing on the horizon.  To make purchasing even more enticing, interest rates are still at historically low levels.

If you are not out shopping for homes, you should be!  There is fantastic opportunity right now in West Hawaii, send me a note and I can get you a list of my best buy properties!