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Happy May! Aloha from Kona, Hawaii! We are already in May and the real estate market continues to be very strong. - Summer is almost here and we can actually plan something for summer this year!! Our older daughter will do an internship in the Midwest where I spend my high school years and the rest of us are going to Japan for the first time in three years. My daughter was born and raised in Hawaii so spending summer in the Midwest is going to be a big change. I have not met my wife's parents yet( we got married last year) so this could be the biggest challenge for me this summer! - As of 2018, 93% of US home buyers search online for their homes. Web traffic stats came out for March 2022 and here is how ten luxury real estate brands fared:Compass.com (COMPASS) - 6.7 million sothebysrealestate.com (Sotheby's). - 4.7 million engelvolkers.com (Engel & Volkers). - 2.8 million corcoran.com (Corcoran) - 1.3 million BHHS.com (Berkshire Hathaway) - 446k christiesrealestate.com (Christie's). - 437.7k knightfrank.com (Knight Frank) - 426,2k elliman.com (Douglas Elliman) - 421.4 K BHSUSA.com (Brown Harris Stevens)172.5K thegencyre.com (The AGENCY) - 127K REALTRENDS 500 ranked COMPASS as the #1 Brokerage in the US in 2021. We are striving to be better each day. - I am traveling to LA this month to meet some of the top agents around the world. Over 150 top agents gather for a REALM event to network and learn from each other. During my trip, I am going to set up a Virtual Reality booth to showcase the cutting new technology using my upcoming $20M listing. REALM and COMPASS agents will have first-hand look at the new ways to market and present the property. I can't wait to share it with the world in a few months. We are living in amazing times. - Lastly, please be safe and happy where ever you are. It is heartbreaking to see all the news about the war but all we can do individually is to keep everyone around us safe and happy. Mahalo for reading! I look forward to seeing you in Hawaii! Kai |
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Kona Market Update |
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Single Family Homes Currently, there are NO active listings under $600,000 in the entire Kona. The median price is steady at $1,095,000, over a 20% increase Year over Year. The pace of the sales has slowed due to a lack of inventory. 178 homes have sold so far this year compared to 273 homes at the same time a year before. Currently, there is barely ONE MONTH of supply as we saw another decrease in inventory this month. But of course, the market condition depends on the price range. The market is still very active with no sign of change. |
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Condominiums Still climbing median price is at $525,000 which is a record-high. The previous record was $461,000 in 2006. The inventory went down again this month to 28 active listings and this is only 0.7 months' worth of supply. Just like the SFH market, the pace of sales is way down compared to last year. Many properties are closing higher than the asking price. |
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KONA ONE YEAR TREND Single Family Homes # of Active Listings: No Change # of Pending Sales: -2.0% Condominiums |
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BIG ISLAND |
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Real Estate in the News |
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The 15 Best Places to Buy a Home in the U.S. if You Want it to Increase in Value For most people, buying a home is one of the biggest purchases they’ll make in their life. And for those looking for a home that will eventually increase in value, location can make a big difference, according to a recent SmartAsset study that ranked real estate markets by their growth in value over time. The study examined home prices dating back to 1997 across 400 metropolitan areas in the U.S. and ranked each based on home value growth and price stability. |
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Local Content |
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Big Island Chocolate Festival May 13 - 14 This fun, interactive and engaging two-day festival will be held at the Waikoloa Beach Marriott Resort & Spa. This is a Seated Affair - enjoy a full 3-course meal and then a 4th-course dessert platter; which includes unlimited wine & beer, live music, and dancing. |
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Lifestyle Tips & Tricks |
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Buying New Construction? 5 Costly Mistakes to Avoid Brand-new homes offer enhanced energy efficiency, amenities and layouts more suited to modern lifestyles, plus the potential to customize spaces that you don’t get with a resale. But if you’re not careful, costs and expectations can spiral out of control. The good news is that following these tips for buying new-construction homes can save you money — and hassle. |
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How to Mix Bold Colors in Your Home Designers say that color has the ability to transform a house into a home. And yet, so many people still feel a bit hesitant to use vivacious shades in their interiors, fearing it will make the space feel overwhelming. Consider this a colorful playbook for your home refresh! |
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Easy Annual Plants That Bloom All Summer Long Whether your garden is a large country plot or a group of containers on a city balcony, easy-to-grow annuals can add a burst of color wherever you need it. Why not give yourself the joy of endless summer color? |
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REALM 425 members, among 100 brands in 33 states and 10 countries. Please let me know if you need a trustworthy broker outside of Hawaii. Compass X REALM = POWERFUL! |
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