Aloha! It's another Wednesday and here we are going to talk about another episode of We Need Inventory. What we're talking about today is Discovery Bay, here in Waikiki. We have 2 different buyers looking for a 2 bedroom condo here. 

Supply vs. Demand at Discovery Bay

For better or worse, what's been happening at Discovery Bay is now the fee is becoming available. Because of that, demand has shot up and there's a lack of inventory because owners just don't want to sell. For perspective, in the last 6 months, there's only been 1 sale and it took place 3 months ago. It went for $600,000 and it was an '11 stack unit. For instance, if you go back 2 years, there have been 16 sales of 2 bedroom units at Discovery Bay between both towers. It just shows how sales have tapered off.

Once again, demand is increasing because nobody wants to sell because everyone knows things are going to be worth more once that fee is purchased. For perspective, a couple of years back, some of the 2 bedrooms units there would only be going in that $400,000 range. Now, that last one traded at $600,000. In any event, if you know anyone looking to sell a unit at Discovery Bay, in particular a 2 bedroom unit, we do have a couple of buyers. One in particular is looking for an '04 stack. The other one is basically lookinig for an ocean view.  It's the '04s, '11s and '14 off the top of my head that are 2 bedrooms. There's 135 (2 bedroom) units total in both towers. 

As of today, there's nothing for sale, so We Need Inventory! Mahalo.