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Median sale prices for homes sold in January were up on Kauai but down on Hawaii island as the number of transactions stayed largely flat, according to data from real estate broker associations on the two neighbor islands.
The biggest change occurred for single-family home prices on Kauai, which surged 23 percent to $610,000 in January compared with $497,000 in the same month last year.
For Kauai condominiums the median price rose
11 percent to $477,500 from $430,000 in the same comparable period.
On Hawaii island the median price for single-family homes fell 16 percent to $295,000 last month from $352,500 a year earlier, and the condo median price slipped less than 1 percent to $250,000 from $251,250.
The data from the Kauai Board of Realtors and Hawaii Island Realtors was compiled in a report by Hawaii Information Service.
Fairly large swings in the median price, which is a point at which half the sales were at a lower price and half were at a higher price, aren’t uncommon for the neighbor island markets because the volume of sales is small and sales include new and previously owned homes. By comparison, Oahu home prices typically see smaller movement because the number of sales is much higher and the Honolulu Board of Realtors excludes sales of new homes, which are often at higher prices than older homes.
Sale volume on Kauai in January was close to flat for single-family homes with
31 transactions compared with 33 in the same month last year. Condo sale volume on Kauai surged
39 percent to 36 transactions from 26 in the year-over-year period.
The number of single-family home sales on Hawaii island was about flat at 153 last month, compared with 152 sales a year earlier. There were 53 condo sales on Hawaii island compared with 54 a year earlier.
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