Business

Home Prices Up, Condo Prices Down Last Month

July 8, 2013, 1:24 PM HST
* Updated July 8, 1:30 PM
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Median home sales prices on the Big Island jumped 44% in June compared to the same month last year.

Meanwhile, condo prices declined 32% in June compared to June 2012.

According to Pacific Business News, which cited data released last Friday from the Hawaii Information Service, the median price of a single-family home in Hawai‘i County in June was $350,000, up from $242,500, the median sales price for June 2012.

June’s median sales price of $350,000 was also an increase over the preceding month. In May, the median home sales price on island was $300,000.

The number of home sales increased in June to 175 homes, an increase of 39% over the 126 homes sold in June 2012.

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Meanwhile, the median sales price of condos and the number of condos sales decreased last month when compared to the same period last year.

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In June, the median sales price of a Big Island condo was $198,000, down 32% from the median sale price of $292,000 during June 2012.

In contrast, 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.

The number of condos sold last month also declined, down 9% to 60 condos from the 66 condos sold in June 2012.

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