Orchidland Estates Current Market Data

It is a good time to invest in property on the east side of the Big Island. Just compare the difference in sale prices at the market peak (late 2005/early 2006) and this year.

Orchidland Estates Land Sales: Number of Sales: 16

Median Sale Price for 2009: $37,500.00 Average Sale Price: $40,093 Lowest Sale Price: $20,000 Highest Sale Price: $130,000 Average Sale Price/List Price: 84.6%

Average Sale Price at the market peak in2005/2006: $81,871 Average Sale Price/List Price: 92% Number of Sales(2005/2006): 112

Home Sales: Number of Sales: 8

Median Sale Price: $240,000 Average Sale Price:$252,112 Average Sale Price/List Price: 95.6%

Average Sale Price at the market peak in 2005/2006: $282,328 Average Sale Price/List Price: 94.6% Number of Sales: 31

The market in this area peaked in price and number of sales for the period 7/1/2005 to 6/30/2006. Near the end of 2006 the market begin to flatten and the number of sales and pricing began to slowly drop. Land prices have been affected more than residential. It is a good time to invest in Hawaii. The land prices are down to approximately 1/2 of the peak price.

Orchidland is a 2500 lot subdivision with lot sizes ranging from 1/2 acre to 3 acres. Most lots are either 2 or 3 acres. The main access roads are mostly paved. Cross streetsare gravel. Lots on or near pavement typically sell for more than lots in the middle of the block. Elevation ranges from about 500 ft. to 1000 ft. above sea level. Climate is typical of windward side of the Hawaiian Islands. Warm sunny or partly sunny days with rain in the evening, early morning or late afternoon. Winter temperatures are around 78 F to 80F in the day and 59F to 65F at night. Summers are a bit warmer with average daytime highs in the mid-80s and night-time lows in the 68 F to 70 F range. This is a large subdivision located approximately a 20 minute drive from Hilo.

Data is from Hawaii Information Service (our local MLS). 2009 data covers 1/1/2009 to 9/2/2009.