Big Isle, Kauai housing markets mostly weakened
Hawaii island and Kauai housing markets in June exhibited mostly negative yet moderate changes in sales and prices, according to industry data.
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Hawaii island and Kauai housing markets in June
exhibited mostly negative yet moderate changes in sales and prices, according to industry data.
In the biggest segment
of the two neighbor island housing markets, single-
family home transactions on Hawaii island, the number of sales declined 8%
to 208 in June from
226 in the same month a year earlier.
These homes sold for a median $369,000 last month, down 3% percent from $381,250 a year earlier, according to a report
published Friday by Hawaii Information Service using data from the Hawaii Island Realtors and Kauai Board
of Realtors trade associations.
For Hawaii island condominiums the number of sales decreased 9% to
72 last month from 79 a year earlier, the report
The median price for
Big Island condos bucked the downward trend in June by rising 8% to $389,750
last month from $362,500 a year earlier.
On Kauai a few more sales of single-family homes — 62 last month compared with 56 a year earlier — helped produce the only other increase in June.
The median sale price
for Kauai single-family homes decreased 15% percent to $622,500 last month from $730,000 a year earlier.
In Kauai’s condo market the number of sales plummeted 44% to 41 last month from 73 a year earlier while the median price slipped 8% to $528,000 from $575,000.
It is not uncommon to have big percentage-point changes for sales and
median prices in neighbor island housing markets
because the number of sales each month is relatively small. Also, the two trade associations count sales of new homes, which can close in bunches, along with previously owned homes.
The median price is
a point at which half the sales were at a higher price and half at a lower price. This measure is affected
by the quality, size, age
and location of homes