Housing markets on Hawaii island and Kauai had a bumpy June but still maintained higher median prices and sales volume through the first half of the year, according to a new report from Hawaii Information Service.
The results in June included more than 30 percent gains for median condominium sale prices on both islands and close to 15 percent declines in condo sale volumes.
The biggest gain last month occurred for Hawaii island’s median condo sale price, which jumped 37 percent to $268,000 from $196,000 in the same month last year.
Most of that gain was driven by condos in North Kona, where there were 29 sales for a median $259,000 last month compared with 39 sales for a median $195,000 a year earlier, representing a 33 percent price gain. There also was a big difference in South Hilo condo sales, where the median roughly doubled to $125,000 in June on six sales from $60,750 on eight sales a year earlier.
For the first half of the year, Hawaii island’s condo median price was up 16 percent to $295,000 from $254,500 in the same period last year.
The number of condo sales on Hawaii island decreased by 15 percent to 53 in June from 62 a year earlier. Through June, however, volume was up 13 percent to 353 sales from 312 in the first six months of last year.
In Hawaii island’s single-family house market, the median sale price fell 14 percent to $300,000 in June from $350,000 a year earlier. That contrasted with a 4 percent gain this year through June to $310,250 from $297,000 a year earlier.
The number of single-family house sales in June slipped 4 percent to 170 from 177 a year earlier. At midyear the number of sales inched up 2 percent to 919 from 899 a year ago.
On Kauai the big gain in June was a 31 percent jump in the median condo sale price to $349,000 from $267,000 in the same month last year. Through June the median price was up a more modest 6 percent to $346,000 from $325,000 a year ago.
The number of condo sales on Kauai fell 19 percent to 35 in June from 43 a year earlier. Still, the condo sale volume this year through June managed a 2 percent gain to 183 from 180 a year ago.
For single-family houses on Kauai, the median price rose 9 percent in June to $560,750 from $515,000 a year earlier. That was close to the 7 percent gain for the first six months of the year that pushed the median price to $535,000 from $500,000 a year ago.
The number of single-family house sales on Kauai also rose in June and for the first half of the year. The gain for the month was 24 percent to 52 sales from 42 sales a year earlier. That helped eke out a 3 percent gain through June based on 236 sales compared with 229 in the first half of last year.