Isle Home Prices Up 35% Over 2012 Levels

The median price of a single-family home on Hawai‘i Island increased for the fourth straight month in April. Condominium prices also increased.

Citing data from Hawaii Information Service, the Pacific Business News reports that the median price of a single-family home in Hawai‘i County last month was $325,000, up 35% from the median price of $241,500 in April 2012.

According to the published report, the number of single-family home sales also increased last month, up 34% to 183 sales, compared to 137 sales during the same month last year.

Single-family home sales have increased every month so far this year.

In January 2013, the median price of homes island-wide was $265,000, an increase of 15% above the January 2012 median price of $231,000.

The median price of a single-family home in Hawai‘i County in February 2013 was $295,000, a 25% increase over the February 2012 median price of $235,000.

In March, the median sales price of a Big Island home increased 26% to $270,000, up from the $215,000 median price that month in 2012.

Condo prices also rose last month, although the number of units sold declined.

Last month the median price of a Hawai‘i Island condominium was $347,500, up 26% from $275,000 in April 2012.

That price is based on the sale of 60 units, which is a 10% decline form the 67 sales in April 2012.

So far this year, median prices for condos on island have varied compared to single-family home median prices.

In January 2013, the median price of a Big Island condo was $205,000, a 12% increase above the January 2012 median price of $182,500.

However, in February condo median prices decreased 6% to $218,000, compared to a median of $233,000 a year before.

And in March the median price of a condo rose just 0.3% to $310,750, compared to $309,950 in March 2012.