The Big Island home sales dipped about 2% for September '10 vs. September '09. Most areas of the island dropped, but Kona showed an increase of 41% for the month. Many of the Kona sales are attributed to the lower price range and foreclosure market where first-time home buyers and folks looking for a 'fixer' are shopping. The Median sales prices were lower again in most areas and the excepting this month was North Kohala, which reported an median price increase of 240%.
| Big Island home Sales September 2009 vs. 2010 | |||||
| Homes Sold | |||||
| Neighborhood | 2009 | 2010 | Median Sale Prices | ||
| North Kohala | 4 | 6 | $ 247,500 | $ 842,500 | |
| Kohala Coast | 20 | 15 | $ 339,500 | $ 324,900 | |
| Kailua – Kona | 24 | 34 | $ 370,000 | $ 350,000 | |
| South Kona | 2 | 2 | $ 295,000 | $ 246,500 | |
| Kau | 15 | 5 | $ 145,000 | $ 148,100 | |
| Hamakua Coast | 0 | 2 | $ 0 | $ 240,000 | |
| North Hilo | 0 | 4 | $ 0 | $ 550,000 | |
| Hilo | 18 | 14 | $ 280,000 | $ 257,500 | |
| Puna | 44 | 42 | $ 177,500 | $ 150,000 | |
| Big Island of Hawaii | 127 | 124 | $ 226,500 | $ 251,000 | |
Kailua-Kona showed a nice increase of condo sales, up 37%. Hilo also saw an increase, while the Kohala Coast reported one less sale from Sept 2009. The downward trend on the Median sales price continues on the Kohala Coast (-8%) and Hilo (-44%). But, Kona actually increased by 17%.
| Big Island Condo Sales September 2009 vs. 2010 | |||||
| Condos Sold | |||||
| Neighborhood | 2009 | 2010 | Median Sale Prices | ||
| North Kohala | 0 | 0 | $ 0 | $ 0 | |
| Kohala Coast | 14 | 13 | $ 375,000 | $ 345,000 | |
| Kailua – Kona | 16 | 22 | $ 205,000 | $ 240,000 | |
| South Kona | 0 | 0 | $ 0 | $ 0 | |
| Kau | 0 | 0 | $ 0 | $ 0 | |
| Hamakua Coast | 0 | 0 | $ 0 | $ 0 | |
| North Hilo | 0 | 0 | $ 0 | $ 0 | |
| Hilo | 2 | 4 | $ 110,000 | $ 61,538 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 32 | 39 | $ 325,000 | $ 262,500 | |
Current Market Conditions as of October 4, 2010... There are 498 Single Family Homes on the market for the Kona/Kohala Coast, which is slight decrease from last month's 502 active listings. There are 151 homes in escrow, which is two less than last month's 153 and 49 homes sold vs. 44 last month. At the current buying rate, we have a 10.1 month supply of homes, which is less than last month's 11.4 month supply. Again, we're seeing a trend of less inventory on the market.
Of the 498 Single Family Homes on the market, 36 are Foreclosure Listings and 46 are Hawaii Short Sale Listings.
For Kona Condos/Kohala Coast Condos, there are currently 514 on the market for sale, which is an increase from last month's 504. There are 104 in escrow, down from 108 last month and 35 sales, down from 41 sales last month. We have a 14.7 month supply of inventory, which is a slight increase from last month's 12.3 month supply.
Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.