Median prices of homes sold on Kauai and Hawaii island last month moved in opposite directions on volume that was mostly higher, according to data released Thursday.
A report from Hawaii Information Service based on data from the Kauai Board of Realtors and Hawaii Island Realtors showed that median prices rose on Kauai and fell on Hawaii island.
The biggest change was for single-family houses on Kauai where the median sale price jumped 42 percent to $675,000 in October from $475,000 in the same month last year. That change was largely driven by more sales last month in the Koloa area, which includes the Poipu and Kukui‘ula resort areas.
There were 15 home sales in Koloa for a median $680,000 last month compared with five sales for a median $1.3 million a year earlier. Though the median was lower last month, there were still more sales for over $680,000 than there were a year earlier.
The median price is a point at which half the sales were for more and half for less.
In Kauai’s condominium market there were 33 sales for a median $299,000 last month compared with 30 sales for a median $238,338 a year earlier.
On Hawaii island the median sale price for single-family houses slipped 8 percent to $298,331 in October from $325,750 a year earlier. The number of sales was up 27 percent to 188 last month from 148 a year earlier.
The condo median sale price on Hawaii island slipped 10 percent to $267,500 from $297,500 in the same period while the number of sales dropped 20 percent to 40 from 50.
Data from the Kauai Board of Realtors and Hawaii Island Realtors includes resales of existing homes as well as new homes sold by developers, which contrasts with Oahu home sales from the Honolulu Board of Realtors, which excludes new-home sales in part because they can generate spikes, especially when a luxury high-rise tower is completed.