Sales for Big Island homes reported little change in most locations compared to May '10. North Kohala showed a 140% increase, which is the only location with a significant difference in sales. Median sale prices were up 39% in North Kohala and up about 8% in Hilo. All other locations reported median price declines: Kohala Coast (-6%), Kailua-Kona (-6%), South Kona (-3%), Kau (-24%), Hamakua (-43%), and Puna (-8%).
| Big Island home Sales May 2010 vs. 2011 | |||||
| Homes Sold | |||||
| Neighborhood | 2010 | 2011 | Median Sale Prices | ||
| North Kohala | 4 | 4 | $ 309,000 | $ 430,500 | |
| Kohala Coast | 10 | 24 | $ 334,500 | $ 315,000 | |
| Kailua – Kona | 34 | 36 | $ 445,650 | $ 421,000 | |
| South Kona | 5 | 4 | $ 262,500 | $ 254,450 | |
| Kau | 7 | 10 | $ 185,000 | $ 140,500 | |
| Hamakua Coast | 4 | 3 | $ 272,500 | $ 154,500 | |
| North Hilo | 1 | 0 | $ 305,000 | $ 0 | |
| Hilo | 17 | 18 | $ 265,000 | $ 285,000 | |
| Puna | 46 | 48 | $ 159,500 | $ 146,000 | |
| Big Island of Hawaii | 128 | 147 | $ 265,000 | $ 237,000 | |
Big Island condo sales where up slightly on the Kohala Coast and in Kailua-Kona compared to May '10. The Kohala Coast reported a 4% increase and Kailua-Kona was up 9%. The Big Island total condos were up almost 11%. Median sale prices actually increased in Kohala, up 4%. Kailua-Kona condo prices declined 22%.
| Big Island Condo Sales May 2010 vs. 2011 | |||||
| Condos Sold | |||||
| Neighborhood | 2010 | 2011 | Median Sale Prices | ||
| North Kohala | 0 | 0 | $ 0 | $ 0 | |
| Kohala Coast | 19 | 23 | $ 370,000 | $ 385,150 | |
| Kailua – Kona | 32 | 35 | $ 215,000 | $ 167,000 | |
| South Kona | 0 | 0 | $ 0 | $ 0 | |
| Kau | 0 | 0 | $ 0 | $ 0 | |
| Hamakua Coast | 0 | 0 | $ 0 | $ 0 | |
| North Hilo | 0 | 0 | $ 0 | $ 0 | |
| Hilo | 4 | 3 | $ 75,748 | $ 8,000 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 55 | 61 | $ 306,250 | $ 199,950 | |
Current Market Conditions as of June 7, 2011... There are 456 Single Family Homes on the market for the Kona/Kohala Coast, which is a decrease from Apr '11 of 473 active listings. There are 158 homes in escrow, 2 more than last month's 156 and 60 homes sold vs. 53 last month. At the current buying rate, we have a 7.6 month supply of homes, which is less than last month's 8.9 month supply.
Of the 473 Single Family Homes on the market, 30 are Foreclosure Listings and 43 are Short Sale Listings.
For Kona/Kohala Coast Condos, there are currently 403 on the market for sale, which is the same as Apr '11 of 403 listed condos. There are 120 in escrow, down from 141 last month and 58 sales, up from 34 sales last month. We have a 6.9 month supply of inventory, which is a large decrease from last month's 11.8 month supply.
Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.