Home sales on Hawaii island and Maui jumped in May, while residential sales slumped on Kauai.
The biggest segment of the three neighbor island markets, single-family homes on Hawaii island, saw lower prices than May 2015, according to a report released this week. And the smallest segment, condominiums on Kauai, experienced a drastic drop in both the number sold and price. The report from Hawaii Information Service is based on data from the Hawaii Island Realtors and Kauai Board of Realtors trade associations.
On Hawaii island, sales of single-family homes rose 7.6 percent to 212 in May compared with 197 in the same month last year. The median price dipped 4.6 percent to $303,250 from $317,979. Big Island condo sales jumped 17.5 percent to 67 units last month from 57 a year earlier. The median price was $329,000, flat with the previous year.
Median prices for condo sales in South Kohala and North Kona were higher last month than a year earlier. South Kohala prices increased 14 percent to $500,000 from $438,000, while prices in North Kona rose nearly 14 percent to $327,250 from $287,450. The median price is a point at which half the sales were at a lower price and half at a higher price.
Kauai’s single-family home sales fell 31 percent, to 35 last month from 51 a year earlier. The median price dropped 18 percent to $502,500 from $615,000.
Kauai condo sales fell nearly 17 percent in May to 35 from 42 a year earlier. The median Kauai condo sale price was $320,000 last month, down 14 percent from $373,000 a year earlier.
On Maui, residential and condo sales numbers increased in May, according to a Saturday report based on data from Realtors Association of Maui Inc. Maui’s single-family home sales increased 5.7 percent, to 93 last month from 88 a year earlier. The median price increased 2 percent to $620,000 from $607,098 in May 2015.
Maui condo sales increased 7.3 percent in May to 118 from 110 a year earlier. The median Maui condo sale price was $423,500 last month, down 7.8 percent from $459,500 a year earlier.
The neighbor island real estate agent trade associations include both previously owned homes and new homes in their reports.