The Big Island home sales were up about 25% for August '10 vs. August '09. Most of increase in sales occurred in Kona, Hilo and Kau. The market movers are Kailua-Kona (+35%), Hilo (+108%) and Kau (+80%) and the Big Island as a whole (+25%). This month, the Median sales prices are lower in the most active areas with the exception of Puna, which saw an increase of 6% with relatively the same number of sales as a year ago. Does that mean we've hit the bottom in the Puna area... time will tell.
| Big Island home Sales August 2009 vs. 2010 | |||||
| Homes Sold | |||||
| Neighborhood | 2009 | 2010 | Median Sale Prices | ||
| North Kohala | 2 | 2 | $ 1,167,550 | $ 1,650,000 | |
| Kohala Coast | 17 | 17 | $ 370,000 | $ 339,700 | |
| Kailua – Kona | 20 | 27 | $ 417,000 | $ 411,000 | |
| South Kona | 4 | 5 | $ 399,000 | $ 275,000 | |
| Kau | 5 | 9 | $ 150,000 | $ 115,000 | |
| Hamakua Coast | 2 | 2 | $ 212,500 | $ 228,790 | |
| North Hilo | 0 | 0 | $ 0 | $ 0 | |
| Hilo | 13 | 27 | $ 320,000 | $ 248,000 | |
| Puna | 36 | 35 | $ 178,750 | $ 190,000 | |
| Big Island of Hawaii | 99 | 124 | $ 290,000 | $ 275,000 | |
The Kona Coast condo sales reported the largest increase for August '10 vs. August '09, with a gain of 73%. Hilo condo sales dropped 75%. The Median sale prices continued drop with Kohala Coast (-15%) and Kona (-29%). But, Hilo prices increased by 72%, which seems to have weakened Hilo's sales total.
| Big Island Condo Sales August 2009 vs. 2010 | |||||
| Condos Sold | |||||
| Neighborhood | 2009 | 2010 | Median Sale Prices | ||
| North Kohala | 0 | 0 | $ 0 | $ 0 | |
| Kohala Coast | 13 | 15 | $ 385,900 | $ 327,500 | |
| Kailua – Kona | 15 | 26 | $ 265,000 | $ 189,00 | |
| South Kona | 0 | 0 | $ 0 | $ 0 | |
| Kau | 1 | 0 | $ 85,000 | $ 0 | |
| Hamakua Coast | 0 | 0 | $ 0 | $ 0 | |
| North Hilo | 0 | 0 | $ 0 | $ 0 | |
| Hilo | 8 | 2 | $ 52,000 | $ 89,500 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 37 | 43 | $ 255,000 | $ 220,000 | |
Current Market Conditions as of September 2, 2010... There are 502 Single Family Homes on the market for the Kona/Kohala Coast, which is slight decrease from last month's 512 active listings. There are 153 homes in escrow, which is one more than last month's 152 and 44 homes sold vs. 38 last month. At the current buying rate, we have a 11.4 month supply of homes, which is less than last month's 13.5 month supply. So, there's a little less inventory on the market and sale have increased slightly.
Of the 502 Single Family Homes on the market, 39 are Foreclosure Listings and 47 are Short Sale Listings.
For Kona condos & Kohala Coast condos, there are currently 504 on the market for sale, which is a small increase from last month's 498. There are 108 in escrow, down from 114 last month and 41 sales, up from 38 sales last month. We have a 12.3 month supply of inventory, which is a small decrease from last month's 13 month supply.
Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.