The Big Island home sales were down slightly in most for July '10 vs. July '09. There was a 400% increase on the Hamakua Coast, but the actual number of homes sold (5) is small in Hamakua, so I don't see that as an indication of a busy market. The market statistics in Kailua-Kona (down 21%), South Kona (no change), Hilo (down 21%), Puna (down 9%) and the Big Island as a whole (down 12%). The Median sales prices seem to be skipping along the bottom as we're seeing fluctuations in both directions across the market.
| Big Island Hawaii home Sales July 2009 vs. 2010 |
|||||
| Homes Sold | |||||
| Neighborhood | 2009 | 2010 | Median Sale Prices | ||
North Kohala |
4 | 2 | $ 930,000 | $ 1,037,500 | |
Kohala Coast |
15 | 16 | $ 370,000 | $ 350,000 | |
Kailua – Kona |
28 | 22 | $ 432,500 | $ 459,900 | |
South Kona |
4 | 4 | $ 349,000 | $ 251,500 | |
| Kau | 5 | 2 | $ 155,000 | $ 193,000 | |
| Hamakua Coast |
1 | 5 | $ 160,000 | $ 450,000 | |
North Hilo |
1 | 0 | $ 475,000 | $ 0 | |
| Hilo | 19 | 15 | $ 260,000 | $ 200,000 | |
| Puna | 43 | 39 | $ 162,500 | $ 170,000 | |
| Big Island of Hawaii | 120 | 105 | $ 258,000 | $ 244,500 | |
The Kohala Coast and Kona condo sales reported increases for July '10 vs. July '09, with Kohala Coast condo sales reporting a gain of 50% and Kona up 33%. The Median sale prices continue their slide with Kohala Coast (down 37%) and Kona (down 7%). Hilo showed an increase in the median sale price of 65%, but reported fewer sales.
| Big Island Hawaii Condo Sales July 2009 vs. 2010 | |||||
| Condos Sold | |||||
| Neighborhood | 2009 | 2010 | Median Sale Prices | ||
North Kohala |
0 | 0 | $ 0 | $ 0 | |
Kohala Coast |
12 | 18 | $ 632,500 | $ 400,000 | |
Kailua – Kona |
15 | 20 | $ 220,000 | $ 205,000 | |
South Kona |
0 | 0 | $ 0 | $ 0 | |
| Kau | 0 | 0 | $ 0 | $ 0 | |
| Hamakua Coast |
0 | 0 | $ 0 | $ 0 | |
North Hilo |
0 | 0 | $ 0 | $ 0 | |
| Hilo | 6 | 2 | $ 103,000 | $ 170,000 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 33 | 40 | $ 265,000 | $ 250,000 | |
Current Market Conditions as of August 3, 2010... There are 512 Single Family Homes on the market for the Kona/Kohala Coast, which is basically on par with last month's 510 active listings. There are 152 homes in escrow, which is less than last month's 163 and 38 homes sold vs. 65 last month. At the current buying rate, we have a 13.5 month supply of homes, which is more than last month's 7.8 month supply. The slow down in home sales may cause prices to drop again as banks try to sell off their foreclosure properties.
Of the 512 Single Family Homes on the market, 45 are Hawaii Foreclosure Listings and 56 are Short Sale Listings.
For Kona/Kohala Coast Condos, there are currently 498 on the market for sale, which is essentially the same as last month's 499. There are 114 in escrow, up from 108 last month and 38 sales, down from 50 sales last month. We have a 13 month supply of inventory, which is a slight increase from last month's 10 month supply.
Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.