Posts Tagged ‘Hawaii Island’

Market Condition April 2020

The March 2020 real estate sales market remained primarily unchanged Year over Year for Hawaii Island for March 2019 vs. March 2020. This is primarily because sales were booked in January and February as the coved-19 pandemic was developing. April 2020 sales reflect the COVID-19 effect clearly as these stats reflect Buyer’s actions in February and March 2020 as flights were cancelled and quarantine mandates were implemented which diminished visitors to the island. I will continue to monitor the effects and report on the number of units in escrow and closed sales as we go forward and update June 1. It’s too early to tell how these declines will effect values at this point as new listings are few, indicating sellers are reluctant to list, which is positive for values as few listings keep our available inventory low. As restrictions on Short Term Vacation Rentals, 14-Day Mandatory Quarantine for new arrivals and flights to Hawaii are restored-sales should continue. Let’s hope this happens sooner than later. The chart b...