Sales of single-family homes and condominiums on Hawaii island and Kauai were higher in July, though median prices were lower, continuing a trend that has been pretty consistent this year.
HAWAII ISLAND HOME SALES
The number of homes in July with the median price and percentage change from the same month last year:
HOMES |
|
SALES |
MEDIAN PRICE |
July 2011 |
124 |
$227,500 |
July 2010 |
112 |
$242,500 |
Pct. change |
+10.7% |
-6.2% |
CONDOS |
|
SALES |
MEDIAN PRICE |
July 2011 |
55 |
$155,000 |
July 2010 |
44 |
$235,000 |
Pct. change |
+25.0% |
-34.0% |
Source: Hawaii Information Service
|
The number of sales did not rise by more than 12 for any segment of the two neighbor island markets, but on a percentage basis the gains were relatively strong. Median price declines were generally more severe.
Hawaii Information Service released the sale data Friday.
On Hawaii island the number of single-family home sales rose 11 percent last month to 124 from 112 in the same month last year. The median price was down 6 percent to $227,500 from $242,500 in the same period.
Hawaii County condo sales were up 25 percent to 55 in July from 44 a year earlier, while the median price fell 34 percent to $155,000 from $235,000.
The dramatic drop in the condo price was driven by activity in the largest submarket, North Kona, where there were 30 sales for a median $137,000 last month compared with 23 sales for a median $220,000 a year earlier.
KAUAI HOME SALES
The number of homes sold in July with the median price and percentage change from the same month last year:
HOMES |
|
SALES |
MEDIAN PRICE |
July 2011 |
35 |
$430,000 |
July 2010 |
25 |
$550,000 |
Pct. change |
+40.0% |
-21.8% |
CONDOS |
|
SALES |
MEDIAN PRICE |
July 2011 |
22 |
$207,450 |
July 2010 |
18 |
$362,500 |
Pct. change |
+22.2% |
-42.8% |
Source: Hawaii Information Service
|
The median is a point at which half the sales were for more and half for less.
On Kauai, sales of single-family homes surged 40 percent to 35 in July from 25 a year earlier. The median price was down 22 percent to $430,000 from $550,000 in the same period.
There were 22 condo sales on Kauai last month, a gain of four units over 18 sales a year earlier. The median price fell 43 percent to $207,450 from $362,500.
The big drop in Kauai’s median price, like the situation on Hawaii island, was driven by sales in particular areas. In the Kawaihau region, which includes Kapaa, the median was $135,000 on seven sales in July compared with $387,500 on eight sales a year earlier. In Lihue the median condo price was $44,100 on seven sales last month compared with $326,120 on two sales a year earlier.