For the month of June, the median sales price for a Big Island SFR home decreased about 13% compared to June '08. The number of homes sold also decreased from 102 compared to 109 June '08. There was a slight increases in units sold on the Kohala Coast and in Kailua-Kona, as some buyer's seem to be returning to the market and taking advantage of the lower prices and interest rates.
| Big Island Hawaii home Sales June 2008 vs. 2009 |
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| Homes Sold | |||||
| Neighborhood | 2008 | 2009 | Median Sale Prices | ||
North Kohala |
1 | 1 | $ 345,000 | $1,850,000 | |
Kohala Coast |
13 | 15 | $ 485,000 | $ 350,000 | |
Kailua – Kona |
22 | 27 | $ 502,500 | $ 435,000 | |
South Kona |
1 | 2 | $ 525,000 | $ 301,750 | |
| Kau | 3 | 3 | $ 165,000 | $ 206,000 | |
| Hamakua Coast |
6 | 1 | $ 397,000 | $ 325,000 | |
North Hilo |
1 | 1 | $ 297,900 | $ 575,000 | |
| Hilo | 21 | 13 | $ 280,000 | $ 280,000 | |
| Puna | 41 | 39 | $ 230,000 | $ 165,000 | |
| Big Island of Hawaii | 109 | 102 | $ 329,285 | $ 285,000 | |
The number of Big Island Condo units sold were down 12% for June, but the median price rose about 3% for June ’09 vs. June ‘08. Most of the condo buying activity is located on the Kohala/Kona
Coast and when we compare the Monthly June '08 to '09 units sold (-12%) vs. the YTD June '08 to '09 units sold (-36%), we see a slight improvement in the data. We'll need to watch this over
time and see if it's a trend, which may indicate we're nearing the bottom of the market.
| Big Island Hawaii Condo Sales June 2008 vs. 2009 |
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| Condos Sold | |||||
| Neighborhood | 2008 | 2009 | Median Sale Prices | ||
North Kohala |
0 | 0 | $ 0 | $ 0 | |
Kohala Coast |
9 | 9 | $ 420,000 | $ 450,000 | |
Kailua – Kona |
18 | 13 | $ 407,500 | $ 249,000 | |
South Kona |
0 | 0 | $ 0 | $ 0 | |
| Kau | 0 | 0 | $ 0 | $ 0 | |
| Hamakua Coast |
0 | 0 | $ 0 | $ 0 | |
North Hilo |
0 | 0 | $ 0 | $ 0 | |
| Hilo | 5 | 6 | $ 157,500 | $ 70,000 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 32 | 28 | $ 301,702 | $ 310,500 | |
Our Current Market Conditions... There are 622 Single Family Homes on the market for the Kona/Kohala Coast, 101 homes in escrow and 42 homes sold during June. We still have a 15 month supply of homes.
For Kona/Kohala Coast Condos, there are currently 688 on the market for sale, 50 in escrow and 22 sold in the past month. That’s about a 31 month supply of condos, which slightly lower than our
last report. A balanced is considered to be a 6 month supply of pre-existing inventory.
Information on June sales for the Big Island of Hawaii was provided by , Big Island real estate experts. Kurt & Kirsten Carlson