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Home sales trail on Kauai, Big Isle

Andrew Gomes

Home sales on the Big Island and Kauai were slow in April, but median prices were mixed, according to reports released yesterday.

The reports from Hawaii Information Service showed that sales on Hawaii island were down just under 20 percent last month, while median prices were modestly higher.

There were 136 single-family homes sold on the island in April, down 19.5 percent from 169 in the same month last year. The median price was up 8.4 percent to $259,950 from $239,900 in the same period.

HOME SALES

The number of homes sold on Kauai in April with the median price and percentage change from the same month last year:

Homes
  Sales Median Price
April 2011 27 $455,165
April 2010 38 $522,500
Pct. change -29.0% -12.9%
Condos
  Sales Median Price
April 2011 19 $294,000
April 2010 17 $426,000
Pct. change +11.8% -31.0%

The number of homes sold on the Big Island in April with the median price and percentage change from the same month last year:

Homes
  Sales Median Price
April 2011 136 $259,950
April 2010 169 $239,900
Pct. change -19.5% +8.4%
Condos
  Sales Median Price
April 2011 36 $262,000
April 2010 44 $260,000
Pct. change -18.2% +0.8%

Source: Hawaii Information Service

Condominium sales were down 18.2 percent to 36 last month from 44 a year earlier. The median price was up 0.8 percent to $262,000 from $260,000.

On Kauai, single-family home sales declined 29 percent to 27 last month from 38 a year earlier. The median price was $455,165, down 12.9 percent from $522,500.

Condo sales on the Garden Island managed a slight budge upward to 19 last month from 17 a year earlier. The median price was down 31 percent to $294,000 from $426,000.

Because of the relatively small sales volumes in the two neighbor island housing markets, median prices can be affected more by the mix of homes sold as opposed to changes in inherent property value.

For instance, there were two single-family homes sold last month in Waimea on Kauai for a median price of $1 million. A year earlier there were three sales for a median $430,000.

In Lihue the median condo price last month on 10 sales was $52,000. A year earlier there were seven sales for a median $162,000.

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