Home prices increase on Big Isle and Kauai

Home prices increase on Big Isle and Kauai

Sale prices rose for homes bought last month on Hawaii island and Kauai, though transaction volume was mostly lower, according to data released Tuesday.

The priciest homes sold in the two neighbor island markets were single-family residences on Kauai, where the median sale price in November was $685,000. That was up 15% from $598,000 in the same month last year.

The median price is a point at which half the sales were higher and half were lower, so the year-over-year change can be affected by the location, size, quality and age of the homes sold. Also, the sales include a mix of previously owned homes as well as new homes.

Kailua-Kona on the west coast of the Big Island.

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One part of Kauai’s housing market that negatively influenced the median price was the high-end Hanalei region, where there were fewer sales — eight sales for a median $972,500 last month compared with 13 sales for a median $1.7 million a year ago.

Pushing up the overall median price for Kauai single-family homes were fewer sales at the market’s low end in Waimea. There was one sale there for $420,000 last month and eight sales for a median $348,500 a year earlier.

In all, there were 47 single-family homes sold on Kauai in November, down 23% from 61 sales a year earlier.

Kauai’s condo median price rose 12% to $437,000 last month from $390,000 a year earlier. The number of sales slipped to 27 from 29 in the same period.

On Hawaii island, median sale prices of single-family homes rose 8% to $386,000 in November from $359,000 a year earlier. There were 180 sales last month, down from 185 in the year-ago period.

Hawaii island condos sold for a median $336,000 last month, up 5% from $321,000 a year earlier. The number of sales jumped 21 percent to 63 from 52.

Hawaii Information Service provides the sales data from the Kauai Board of Realtors and Hawaii Island Realtors trade associations.

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