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Discovery Harbour vacant lot prices
I have been keeping track of the listing (not sale) prices of vacant lots in Discovery Harbour monthly for almost 7 years. Average and median listing price is about 2/3 what it was and the number of lots listed is about 1/3 more. Sure there is some fluctuation, but the trend is fairly constant and movement, if any, if very slow. While prices for homes in some places on Big Island, I understand, have rebounded, there has not been improvement over this time in vacant lots in Discovery Harbour. I see reporting from time to time on residential property, but I don't come across much reporting on vacant lots. Does anyone have any reasonable expectation of price increases, or do coming few years seem to be more of the same? When we purchased to retire in Discovery Harbour prices were going up quickly (before 2008), but the lot now would probably only bring 1/4 or 1/3 of what we paid. Retirement plans have changed. I know no one has a crystal ball, but what do you think? Wait? If so, how long? What is the basis for your thoughts? At some point we need to move on. Do you think (not interested in hope) the current market is reflective of the market for 4-5 years to come?
Δ No Crystal Ball
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