Kauai, Big Island home sales mostly up, but prices down
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.
Don't miss out on what's happening!
Stay in touch with top news, as it happens, conveniently in your email inbox. It's FREE!
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.