No records were broken, but home prices on Hawaii island and Kauai rose in 2014 while sales volume mostly lagged the prior year as neighbor island housing markets continued a slow recovery from a deep trough several years ago.
Hawaii Information Service released the annual sales statistics from Hawaii Island Realtors and the Kauai Board of Realtors on Monday.
The biggest gain was in Kauai’s condominium market, where the median price for units sold last year rose 15 percent to $345,500 from $300,000 the year before. It was the third consecutive year with a gain, yet the record set in 2007 stands much higher at $565,000.
Sales volume for Kauai condos was down 8 percent to 328 units last year from 355 a year earlier.
For Kauai single-family houses, the median sale price last year was up just 1.5 percent to $533,000 from $525,000 the year before. The record was $675,000 in 2006.
There were 466 single-family house sales on the Garden Isle last year, which was a 4 percent gain from 449 a year earlier and represented the only segment of the two neighbor island markets where more homes were sold.
In December alone there were 24 Kauai condos that sold for a median $400,000 compared with 21 sales at a median $380,000 in the same month a year earlier.
December sales of single-family houses on Kauai slumped to 34 from 42 a year earlier while the median price soared 83 percent to $832,500 from $454,500.
The surge was largely attributable to a few sales in the Koloa area, where seven homes sold for a median $1.4 million last month compared with 11 sales for a median $480,000 a year earlier. There also were 12 sales for a median $1.4 million in the Hanalei area last month compared with six a year earlier for a median $1.2 million.
Sometimes big swings in the median can be caused by the age, size and location of homes sold when there are relatively few sales. The median price is a point at which half the homes sold for more and half for less.
On Hawaii island the median sale price for single-family houses last year rose 8 percent to $317,740 from $295,000 the year before. The record was set in 2006 at $421,000.
There were 1,873 single-family house sales last year, down about 1 percent from 1,884 a year earlier.
Condo sales on Hawaii island managed a 12 percent median price gain to $280,000 from $250,000 the year before. The record was $426,498 in 2006.
Condo sales volume was down 1 percent to 641 from 647 in the comparable period.
For just December the median single-family house price was up 18 percent to $334,000 on 168 sales compared with $282,500 on 146 sales in December 2013.
There were 49 Hawaii island condo sales for a median $243,500 in December compared with 45 sales for a median $230,950 a year earlier.