Home Prices Up, Condo Prices Down Last Month
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.
Meanwhile, the median sales price of condos and the number of condos sales decreased last month when compared to the same period last year.
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.