Home sales and median prices on Hawaii island and Kauai mostly rose last month, including some robust double-digit increases that underscore the residential real estate recovery on the neighbor islands.
Most activity occurred in Hawaii island’s single-family home market, where the number of sales surged 34 percent to 183 in April from 137 in the same month last year, according to a Hawaii Information Service report released Sunday.
The median price for single-family home sales on the Big Island jumped by a similar margin — 35 percent — to $325,000 from $241,500.
Most Big Isle home sales occurred in Puna, where 52 homes were sold in April for a median price of $169,450. A year earlier there were 41 sales for a median $130,000 in the region.
The next-busiest region for sales on Hawaii island was North Kona, where there were 41 sales for a median $460,000 last month. A year earlier there were 46 sales for a median $393,855 in the area that includes resort property.
In Hawaii island’s condominium market, the number of sales in April declined by 10 percent to 60 from 67 a year earlier. The median price, however, rose 26 percent to $347,500 from $275,000 in the same period.
On Kauai, single-family home sales soared 90 percent to 55 last month from 29 a year earlier, Hawaii Information Service’s report showed. The median price, however, fell 15 percent to $575,000 from $680,000.
Most of the volume gain and opposing drag on the median price occurred in the Koloa region, which includes Poipu resort. There were 20 sales in Koloa last month for a median $545,000, compared with nine sales for a median $825,000 a year earlier.
The median is the point at which half the sales are for a higher price and half for a lower price. The measure can be pushed up or down by different attributes such as age, size and quality of homes in the mix of sales.
In Kauai’s condo market, the number of sales rose 36 percent to 45 last month from 33 a year earlier. The median price was up 7 percent to $335,000 from $312,000.
HOME SALES The number of homes sold on Kauai in April with the median price and percentage change from the same month last year:
HOMES |
|
SALES |
MEDIAN PRICE |
April 2013 |
55 |
$575,000 |
April 2012 |
29 |
$680,000 |
Pct. change |
+89.7% |
-15.4% |
CONDOS |
|
SALES |
MEDIAN PRICE |
April 2013 |
45 |
$335,000 |
April 2012 |
33 |
$312,000 |
Pct. change |
+36.4% |
+7.4% |
The number of homes sold on Hawaii island in April with the median price and percentage change from the same month last year:
HOMES |
|
SALES |
MEDIAN PRICE |
April 2013 |
183 |
$325,000 |
April 2012 |
137 |
$241,500 |
Pct. change |
+33.6% |
+34.6% |
CONDOS |
|
SALES |
MEDIAN PRICE |
April 2013 |
60 |
$347,500 |
April 2012 |
67 |
$275,000 |
Pct. change |
-10.5% |
+26.4% |
Source: Hawaii Information Service |