Big Island Brokerage Closes $25.7M in SalesDecember 26, 2016, 1:45 PM HST (Updated December 26, 2016, 1:50 PM)
On the Big Island, increased home rates, lower number of days on the market and low interest rates indicate the continuation of real estate sales in 2017
Harold Clarke, president of Luxury Big Island, brokered $25.7 million in sales in the last two months.
In November, Clarke brokered the $9.750 million sale of a home at the luxury Four Seasons Hualalai Resort. The four bedroom, five bathroom custom home has more than 10,000 square feet of indoor living and outdoor space in a private, gated and walled compound.
Key features include a gourmet kitchen, media room, wine room, heated infinity-edge pool, sport court and expansive outdoor BBQ/cooking area. The home is located steps from the world-class Nicklaus and Weiskopf golf courses and Hualalai Resort’s five-star amenities.
Clarke also recently negotiated the $8.950 million sale of a 6,760-square-foot home in the exclusive Kukio neighborhood on the Kona Coast. The home features two master suites, three en suite guest bedrooms with private entrances, a wine room and separate media room. The property also features an in-ground pool with built-in spa, gas grill on a sunset lānai, fire pit and a three-car garage.
The two sales illustrate Clarke’s track record in the luxury real estate market on the Big Island.
Earlier this year, he handled the $5.650 million sale of a 4,124-square-foot home at Laurence S. Rockefeller’s Mauna Kea Fairways South. This transaction is the highest non-oceanfront sale at the Mauna Kea Resort this year.
“The sale of these properties and the prices we were able to secure for our clients shows us that the luxury real estate market on the Big Island continues to be strong,” said Clarke. “Interest rates are still historically low and we are seeing a nice selection of inventory at competitive prices. Buyers should be encouraged to take advantage of this market while they still can. Sellers should also be encouraged as home values are increasing, the time it takes to sell is decreasing, and buyer confidence is improving.”
The Big Island real estate market has seen the median price of a single-family home increase more than 25% year over year, and the time it takes to sell a property has fallen to less than 170 days for single-family homes, according to Clarke.
The local real estate market is also seeing an upward trend in interest for Big Island land on which to build—something that generally indicates a strong market overall.
“Right now, market conditions are positive for both buyers and sellers,” said Clarke. “I am optimistic that we will continue to see this strength in 2017 and I look forward to bringing the best that the Big Island has to offer to buyers from around the world in the coming year.”
For more information, visit www.luxurybigisland.com.