The number of Big Island home sales were down slightly in the major markets compared to June '10. Kohala Coast reported a 15% decrease, Kona was down 11%, Hilo down 44% and Puna down 9%. Median sale prices were up 86% in North Kohala, up about 10% on the Kohala Coast, up 1% in Hilo and up 5% in Puna. Kailua-Kona was down 5%, South Kona down 10%, Kau down 23%, and Hamakua down 26%.
| Big Island home Sales June 2010 vs. 2011 | |||||
| Homes Sold | |||||
| Neighborhood | 2010 | 2011 | Median Sale Prices | ||
| North Kohala | 3 | 4 | $ 500,000 | $ 931,000 | |
| Kohala Coast | 20 | 17 | $ 317,000 | $ 350,000 | |
| Kailua – Kona | 45 | 40 | $ 420,000 | $ 399,475 | |
| South Kona | 7 | 9 | $ 343,000 | $ 310,000 | |
| Kau | 6 | 12 | $ 172,800 | $ 132,600 | |
| Hamakua Coast | 2 | 2 | $ 475,000 | $ 351,500 | |
| North Hilo | 0 | 0 | $ 0 | $ 0 | |
| Hilo | 25 | 14 | $ 285,000 | $ 288,735 | |
| Puna | 54 | 49 | $ 138,000 | $ 144,900 | |
| Big Island of Hawaii | 162 | 147 | $ 285,000 | $ 260,000 | |
Big Island condo sales where down slightly compared to June '10. The Kohala Coast reported a 16% decrease and Kailua-Kona was down 3%. The Big Island total condo sales were down almost 9%. Median sale prices are gaining in all areas with Kohala up 38%, Kailua-Kona condo prices up 45%, Hilo up 3% and the Big Island Median Condo price is up 30%.
| Big Island Condo Sales June 2010 vs. 2011 | |||||
| Condos Sold | |||||
| Neighborhood | 2010 | 2011 | Median Sale Prices | ||
| North Kohala | 0 | 0 | $ 0 | $ 0 | |
| Kohala Coast | 19 | 16 | $ 335,000 | $ 462,500 | |
| Kailua – Kona | 32 | 31 | $ 142,500 | $ 207,500 | |
| South Kona | 0 | 0 | $ 0 | $ 0 | |
| Kau | 0 | 0 | $ 0 | $ 0 | |
| Hamakua Coast | 0 | 0 | $ 0 | $ 0 | |
| North Hilo | 0 | 0 | $ 0 | $ 0 | |
| Hilo | 3 | 2 | $ 152,563 | $ 157,250 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 54 | 49 | $ 183,750 | $ 240,000 | |
Current Market Conditions as of July 7, 2011... There are 477 Single Family Homes on the market for the Kona/Kohala Coast, which is an increase from May '11 of 456 active listings. There are 140 homes in escrow, 18 less than last month's 158 and 57 homes sold vs. 60 last month. At the current buying rate, we have a 8.4 month supply of homes, which is more than last month's 7.6 month supply.
Of the 477 Single Family Homes on the market, 33 are Foreclosure Listings and 45 are Short Sale Listings.
For Kona/Kohala Coast Condos, there are currently 377 on the market for sale, which is the less than May '11 of 403 listed condos. There are 134 in escrow, up from 120 last month and 47 sales, down from 58 sales last month. We have a 8.0 month supply of inventory, which is a increase from last month's 6.9 month supply.