Now that the summer of 2012 is behind us, we can look back on where the action was on Gold Coast sales.
The sea wall fronting Tropic Seas on Honolulu's Gold Coast at Diamond Head
There were 10 transactions that took palce this summer, just over three a month. While this isn't considered "big volume", it is a healthy amount of activity given that there is very little inventory on the market. The Tropic Seas led the way with 3 transactions closed, followed by the Coral Strand and Sans Souci with 2 sales each. The Castle Surf, Colony Surf and the Diamond Head Beach Hotel each had 1 transaction take place. What was interesting to see was that 30% (3 out of 10) of the sales were Leasehold units.
The highest sale was #608 at the Tropic Seas, which was a 2 bed, 2 bath unit that went for $1,400,000. The lowest was #1006 at Sans Souci, which was a studio that went for $195,000. Now that the summer is behind us, it will be interesting to see what this fall holds. It's traditinally a slower time of year on the Gold Coast, however it may be a great time to be buyer while there's less competition. If you're a seller, you may have missed the summer boat... or have you? More buyers crossed the path along Tropic Seas this summer than any other building. Which one is next?