POSTED: 1:30 a.m. HST, Apr 6, 2011
Volume was mostly higher for single-family homes and condominiums sold on Kauai and the Big Island in March, but median prices were lower.
Median sale prices were mostly down a little more than 20 percent except for single-family homes on Kauai, where the decrease was 3 percent, according to data from Hawaii Information Service.
Kauai single-family homes sold for a median $500,000 last month compared with $515,000 in the same month last year. Volume was up 46 percent to 35 sales compared with 24 in the same period a year ago.
In Kauai’s condo market, the median sale price last month was down 23 percent to $265,000 on 24 sales compared with $345,000 on 29 sales a year earlier.
The median price is a point at which half the sales were at a higher price and half were at a lower price.
The measure can be a poor indicator of property value changes because it is influenced by the mix of homes sold, especially when the number of transactions is relatively small.
On the Big Island, single-family homes sold for a median $230,900 last month, down 22 percent from $297,500 a year earlier.
There were 166 sales in March, up 26 percent from 132 a year earlier.
Condos there sold for a median $227,500 last month, a 24 percent decrease from $298,000 a year earlier. There were 77 sales compared with 50 in the same year-over-year period.