Aianloa Market Data: Vacant Land

Ainaloa estates is located about 16 miles from Hilo. Most lots are 12,000 sq.ft.; there are a few larger and smaller lots at the ends of some blocks. Data from Hawaii Information Sevice on 7/28/2009

Number of Active Listings: 62 Low List Price: $11,900 Highest List Price: $40,000

Pending Sales: Lowest List Price: $9,900 Highest List Price: $15,000

Number of Sales 1/1/2009 to 7/28/2009: 13 Lowest Sale Price: $8,000 Highest Sale Price: $26,000

Average Sale Price: $13,576 Median Sale Price: $12,000

This subdivision is a good buy right now if you are looking at the lower priced lots and don't need or want acreage. When the market peaked in late 2005 and early 2006 (6/1/2005 to 6/1/2006) the median sale price was $35,000 and the average was $34,783 with 303 sales during that period. It appears that we are either at the bottom of the market for this cycle or getting very close. Vacant lots priced at around $11,000 or $12,000 are selling. The higher priced lots are sitting on the market unless they have been cleared and fenced; the highest priced sale had a rock wall along the front and was mostly cleared and appeared to be ready for construction.