An Early Review: Waikoloa Village’s Single-Family Home Market in 2023

Waikoloa Village Homes for Sale

An Early Review: Waikoloa Village’s Single-Family Home Market in 2023

Waikoloa Village’s single-family home market is holding steady year over year. Compared to last year, total home sales are down slightly in 2023 (83 vs. 92) while median sales prices are up a smidge from $898,500 to $900,000. Most notably, days on the market have doubled in 2023, while an overall lack of inventory (homes for sale) continues to favor sellers and tighten the grip on today’s housing market.

As the year began, many had speculated there would be a significant correction in the overall real estate market partly due to record high mortgage rates, concerns about a recession, and waning buyer confidence. Those with that prediction appear to still be waiting… However, it’s worth noting that buyers regained some market control, as 37% of homes sold had a price reduction while days on the market doubled from 27 days to 58 days, although prices held near record highs.

Recently, mortgage interest rates have been declining, marking five consecutive weeks of decrease. As such, the current real estate market outlook is now favoring an increase in buyers, an increase in sellers who are looking to switch properties, and ultimately more competition, which would result in home prices rising. Much like the stock market, it is impossible to time bottoms and tops, and over the long run Hawaii real estate has proven to be a sound investment.

In reviewing the information provided, it is important to understand that the larger numbers that are commonly reported and in the headlines do not reflect the neighborhood nuances of Waikoloa Village. To help our clients navigate today’s real estate landscape, we’ve provided a few of our favorite breakdowns of Waikoloa Village’s single-family home market. Check em out!

Reporting period (January 1 – November 30)

We just couldn’t wait for the end of the year!

Summary of Waikoloa Village Single-Family Home Sales

Total Sales9283-10%
Median Price$898,500$900,0000%
Days on Market2758115%
Sold Above Asking447-84%
Price Reductions173182%

Waikoloa Village Home Sales by Neighborhood

NeighborhoodTotal SalesMedian PriceDays on MarketSold Above AskingAverage Price / Living SqFt
Kikaha At Wehilani3 $1,050,000 63 $585
Kilohana Kai At Waikoloa9 $1,120,000 4922% $672
Kipona Hills Subdivision2 $867,501 156 $460
Paniolo Estates4 $687,875 64 $514
Pheasant Ridge At Waikoloa3 $695,000 96 $614
Sunset Ridge At Waikoloa17 $905,000 4212% $597
Waikoloa Village44 $893,750 577% $482

Waikoloa Village Sales by Bedrooms

BedroomsTotal SalesMedian PriceDays on MarketSold Above AskingAverage Price / Living SqFt
22 $797,500 46 $558
364 $892,500 5511% $565
49 $930,000 40 $416
55 $1,030,000 111 $402
61 $615,000 174 $282

Waikoloa Village Sales by Price Range

Price RangeTotal SalesDays on MarketSold Above AskingAverage Living Area
Less than $600k1131 1,083
$600k-$699k14767% 1,411
$700k-$799k952 1,536
$800k-$899k155613% 1,625
$900k-$999k18596% 1,827
$1M-$1.099M1043 1,951
$1.1M-$1.199M75429% 2,082
$1.2M-$1.299M326 1,266
$1.3M-$1.399M338 2,237
$1.5+M28750% 1,841

Note: The one property that sold for less than $600k was a REO

Historical Trend of Single-Family Homes in Waikoloa Village

Let us know what you think and if you have any questions, we’d love to provide a more detailed analysis for you.

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