Condo Prices Rose Last Month Over 2012 Levels

Median home sales prices on the Big Island were flat last month compared to the same month last year. Meanwhile, condo prices climbed 37% in May compared to May 2012.

Citing data from Hawaii Information Service, the Pacific Business News reports that the median price of a single-family home in Hawai‘i County in May was $300,000, exactly the same as May 2012.

Sales of single-family homes were up slightly last month with 161 single-family homes sold in Hawai‘i County, an increase of 5% compared to the 153 homes sold the same month a year ago.

However, both the median home price and volume of homes sold in May were down when compared to the preceding month.

In April, the median sales price of a single-family home on Hawai‘i Island was $325,000 with 183 sales.

The median sales price of condos increased last month compared to the same month last year, although the number of sales decreased.

In May, the median sales price of a condominium on the Big Island was $330,000, up 37.5% from May 2012 when the median price was $240,000. There were 45 condos sold on island last month, a decline of 21% compared to 57 units sold in May 2012.

Median sales prices of condos and sales volume in May were down slightly when compared to the preceding month. In April, the median sales price of a Big Island condo was $347,500, based on the sale of 60 units.