Home sales volume and prices on Kauai and Hawaii island mostly rose in August and included some spikes in condominium activity, according to a report released Monday.
The report, compiled by Hawaii Information Service for the Kauai Board of Realtors and Hawaii Island Realtors, included mainly modest gains, a few big jumps and one small decline in the two neighbor island housing markets.
One of the spikes was the median sale price for condos on Kauai, which soared 92 percent to $474,000 last month from $247,250 in the same month last year.
The surge was mainly driven by activity in Hanalei, which includes Princeville Resort. There were seven Hanalei condo sales for a median $915,000 last month compared with four sales for a median $421,000 a year ago.
Overall, there were 25 condo sales on Kauai in August. That was up 25 percent from 20 sales a year earlier.
The relatively small number of sales is one factor that makes particularly big swings fairly common in neighbor island housing markets. This is especially true for the median price, which can be affected by the quality, size, location and age of homes sold because the measure is a point at which half the sales are at a higher price and half at a lower price.
The other spike in August happened in Hawaii island’s condo market, where the number of sales jumped 59 percent to 73 last month from 46 sales a year earlier.
Other parts of the two housing markets had modest changes.
The median sale price for Hawaii island condos rose
7 percent to $285,000 last month from $267,500 a year earlier.
Also on Hawaii island, there were 195 single-family home sales in August, up
7 percent from 182 a year earlier. The median price rose 6 percent to $355,000 from $336,500 in the same period.
Kauai single-family home sales rose 2 percent to 58 last month from 57 a year earlier while the median price dipped 4 percent to $617,500 from $645,000.