Prices and volume of home sales on two neighbor islands mainly moved higher in July, though there was one big exception.
Data from the Kauai Board of Realtors and Hawaii Island Realtors released Wednesday by Hawaii Information Service showed that the number of sales increased across both islands while median prices rose with the exception of condominiums on Hawaii Island.
The biggest increase was a 24 percent gain for Kauai’s median single-family house price, which surged to $612,000 in July from $495,000 in the same month last year.
Steep swings are common for median sale prices on the neighbor islands given relatively few sales that can be influenced more by the quality, size, age and location of homes sold.
For instance, in Kauai’s Hanalei area there were 10 homes sold last month for a median $1 million compared with six sales for a median $647,500 a year earlier. For the whole island, there were 41 single-family houses sold last month, up 17 percent from 35 sales a year earlier.
Condominiums on Kauai sold for a median $455,004 last month, up 20 percent from $378,500 a year earlier. That was based on 32 sales last month compared with 30 a year earlier.
On Hawaii island, the single-family home median sale price was 343,500 in July, up 4 percent from $330,000 a year earlier. That was based on 190 sales last month and 182 a year earlier.
The big decrease occurred for Hawaii island condos, which sold for a median $252,000 last month. That represented a 33 percent drop from $377,000 a year earlier.
Much of the drop was the result of fewer condos sold in the pricier South Kohala region and more condos sold in the less-expensive North Kona region.
In South Kohala, there were 12 sales for $402,500 last month compared with 18 sales for a median $491,500 a year earlier. In North Kona, there were 35 sales for a median $254,000 last month compared with 31 sales for a median $275,000 a year earlier.
For the whole island, there were 56 condo sales last month compared with 53 sales a year earlier.
Home Sales
The number of homes and condos sold in July with the median price and percentage change from the same month last year:
HOMES
|
Kauai |
Big Island |
Sales |
July 2015 |
41 |
190 |
July 2014 |
35 |
182 |
Pct. change |
+17.1% |
+4.4% |
Median Price |
July 2015 |
$612,000 |
$343,500 |
July 2014 |
$495,000 |
$330,000 |
Pct. change |
+23.6% |
+4.1% |
CONDOS
|
Kauai |
Big Island |
Sales |
July 2015 |
32 |
56 |
July 2014 |
30 |
53 |
Pct. change |
+6.7% |
+5.7% |
Median Price |
July 2015 |
$455,004 |
$252,000 |
July 2014 |
$378,500 |
$377,000 |
Pct. change |
+20.2% |
-33.2% |
Source: Hawaii Information Service