Median prices for neighbor island homes sold in March mostly moved higher, though the volume of sales was more mixed, according to statistics released Saturday.
The largest gain in prices occurred for single-family houses on Hawaii island, where the median rose 22 percent to $329,750 last month from $270,000 a year earlier, according to Hawaii Information Service.
Other big increases occurred for single-family house median sale prices on Kauai and Maui.
The figure rose 18 percent on Kauai to $562,500 in March from $477,500 in the same month last year, Hawaii Information Service reported. On Maui the median price rose 17 percent to $596,000 from $509,500 in the same period, according to the Realtors Association of Maui.
The median price is a point at which half the sales were at a higher price and half at a lower price. Because neighbor island housing markets involve relatively few sales, the median price can be subject to large swings influenced by the mix in quality, location, age and size of homes sold. Another factor is the mix of new and previously owned homes — both of which are counted by Hawaii Information Service and the Realtors Association of Maui. On Oahu the Honolulu Board of Realtors counts only previously owned homes.
There were 137 single- family house sales on Hawaii island last month, down 3 percent from 141 a year earlier.
On Maui the number of single-family house sales fell 14 percent to 69 from 80 in the same period, and on Kauai 46 single-family house sales last month represented a 24 percent gain over 37 sales a year earlier.
For condominium median prices, there was a 1 percent gain on Hawaii island to $315,000 in March from $310,750 a year earlier. The Maui median condo price rose 12 percent to $420,000 from $375,000, and on Kauai the median condo price fell 18 percent to $295,000 from $360,000.
Maui had the most condo sales at 127 last month, representing a 26 percent gain over 101 sales a year earlier. On Hawaii island there were 63 condo sales, up 17 percent from 54 in the same period, and on Kauai 23 condo sales last month represented a 12 percent decline from 26 sales a year earlier.
CLICK HERE: ENLARGE CHART
