July 2009 Big Island Market Update

For the month of July, the number of Kailua-Kona homes sales almost doubled compared to July '08 sales and the Median sale price is down about $90,000 to $432,500.  In general, Median Sale prices are lower in almost all districts of the Big Island, with exceptions in South Kona and North Hilo.

Big Island Hawaii home Sales July 2008 vs. 2009
	Homes Sold
Neighborhood	2008	2009	Median Sale Prices
North Kohala	3	4	$ 1,175,000	$ 930,000
Kohala Coast	13	14	$ 400,000	$ 356,500
Kailua – Kona	14	26	$ 522,500	$ 432,500
South Kona	4	3	$ 322,500	$ 375,000
Kau	7	3	$ 218,000	$ 120,000
Hamakua Coast	4	1	$ 307,000	$ 160,000
North Hilo	1	1	$ 450,000	$ 475,000
Hilo	19	17	$ 340,000	$ 257,000
Puna	35	41	$ 239,500	$ 164,900
Big Island of Hawaii	100	108	$ 299,000	$ 261,950

The same story here for Big Island Condo Median Sale Prices...  All districts are down and Kailua-Kona shows one of the largest decreases.  Kona condo Median Prices are down just over $100,000 from last year, while the number of sold units remained about the same.  The number of condo sales on the Kohala Coast is down 50%.

Big Island Hawaii Condo Sales July 2008 vs. 2009
	Condos Sold
Neighborhood	2008	2009	Median Sale Prices
North Kohala	0	0	$ 0	$ 0
Kohala Coast	12	6	$ 523,000	$ 512,500
Kailua – Kona	14	15	$ 302,000	$ 200,000
South Kona	1	0	$ 235,000	$ 0
Kau	0	0	$ 0	$ 0
Hamakua Coast	0	0	$ 0	$ 0
North Hilo	0	0	$ 0	$ 0
Hilo	5	4	$ 159,000	$ 103,000
Puna	0	0	$ 0	$ 0
Big Island of Hawaii	32	25	$ 324,500	$ 200,000

Our Current Market Conditions... There are 609 Single Family Homes on the market for the Kona/Kohala Coast, 104 homes in escrow and 40 homes sold during July.  We still have a 15 month supply of homes.

For Kona/Kohala Coast Condos, there are currently 666 on the market for sale, 57 in escrow and 21 sold in the past month.  That’s about a 32 month supply of condos, which slightly lower than our last report.

Information on July sales for the Big Island of Hawaii was provided by , Kurt & Kirsten Carlson Big Island real estate experts.