Hawaii Island Real Estate And Mortgage Update May 2023

So how IS the real estate and mortgage market? We start the video with Scott and Marla Wynn, Wynn and Eagan Team, discussing mortgage rates in the low 6% level and why the rates did not drop, as expected.

Lance Owens, LUVA Real Estate, discussed the West Hawaii housing market and noted that sales are brisk, but inventory continues to be low. Median home price is still over $1 million. Condo sales price is $567,500. He said the "bottom of the 2023 market is now in the rear view mirror".

Delania Branham, REAL Broker, provided numbers to show that the targeted neighborhoods we are tracking continue to see price increases and low inventory.

Amber Haley, REAL Broker, discussed East Hawaii and noticed that there are plenty of homes for sale in HAWAIIAN PARADISE PARK, but not so in Hilo, where the median price is $430K compared to $350k in HPP.

Tanya Klett, KW Big Island, shared numbers for North Hawaii. The median price for a single family home in South Kohala is $875,000. The list price to sales price in North Kohala is at 95% and South Kohala is 92.81 for single family homes.

If you would like to have a Comparable Market Analysis created for you anywhere on the island if you are considering selling your home, email Eric Ziemelis, Eric@Ziemelis.com.

Eric and Julie Ziemelis are the 365Hawaii Group Keller Williams Realty. We offer marketing expertise to home sellers with a large group of buyers from our private Facebook group. For Buyers, we offer expertise and resources to ensure we remove the uncertainly from the experience! We also partner with these fabulous Realtors and mortgage pros to help you buy or sell around the island. Looking for connections? Julie@Ziemelis.com

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