Business

Home Sales Down, Condo Prices Up

December 10, 2012, 5:36 PM HST
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The sales volume of Big Island homes and condos decreased last month and while the sales volume of condos also fell, condo prices rose a dramatic 46%.

According to data released by Hawaii Information Service, the median price of a single-family home on the Big Island in November was $245,000 a decrease of only 1% from the median price of $248,500 the same month a year ago.

Sales volume of single-family homes saw a more substantial decrease with 116 homes sold last month, an 11% decrease from the 130 sold in November 2011.

There were 22 condo sales last month, down 22% from 28 sales during the same month last year.

The only increase in housing data last month was the substantial median price of condos.

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Last month the median price of a Big Island condo was $250,000, a jaw-dropping 46% increase over the median price of $171,500 in November 2011.

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