The median price of condominiums on Hawaii island and Kauai soared in November as the relatively small number of sales in certain markets produced big increases.
Hawaii island condos fetched a median of $250,000, up 45.8 percent from $171,500 a year earlier, according to data released Wednesday from Hawaii Information Service. The median is the point at which half the homes sold for more and half for less.
Some of the jump in median prices for Hawaii island condos came from South Kohala, where there were 11 sales for a median of $439,000 compared with 13 sales for a median of $325,000 a year earlier. Overall, the island’s condo sales fell 22.2 percent to 28 from 36.
On Kauai, condo prices catapulted 38.4 percent to $294,000 from $212,500 a year ago as the number of sales rose 27.3 percent to 28 from 22. Higher-priced sales occurred in Koloa, where there were six sales for a median of $414,500 compared with nine sales for a median of $210,000 a year earlier.
In Lihue, there were seven sales for a median of $225,000 compared with four sales for a median of $47,300 a year ago.
Single-family home sales showed less-dramatic changes.
On Hawaii island, home sales declined 10.8 percent to 116 from 130 as the median price slipped 1.4 percent to $245,000 from $248,500. In Puna, the busiest region for single-family home sales, the median price rose 23.4 percent to $165,000 on 45 sales versus $133,750 on 40 sales in November 2011.
Kauai home sales rose 12.7 percent to $522,500 from $463,500 despite sales falling 15.9 percent, to 37 from 44. In Koloa, the island’s busiest region, 12 sales accounted for a median of $738,500 compared with 15 sales that produced a median of $452,000 a year ago.