Hawaii island and Kauai housing markets in June exhibited mostly negative yet moderate changes in sales and prices, according to industry data.
In the biggest segment of the two neighbor island housing markets, single-family home transactions on Hawaii island, the number of sales declined 8% to 208 in June from 226 in the same month a year earlier.
These homes sold for a median $369,000 last month, down 3% percent from $381,250 a year earlier, according to a report published by Hawaii Information Service using data from the Hawaii Island Realtors and Kauai Board of Realtors trade associations.
For Hawaii island condominiums the number of sales decreased 9% to 72 last month from 79 a year earlier, the report said.
The median price for Big Island condos bucked the downward trend in June by rising 8% to $389,750 last month from $362,500 a year earlier.
On Kauai a few more sales of single-family homes — 62 last month compared with 56 a year earlier — helped produce the only other increase in June.
The median sale price for Kauai single-family homes decreased 15% to $622,500 last month from $730,000 a year earlier.
In Kauai's condo market the number of sales plummeted 44% to 41 last month from 73 a year earlier while the median price slipped 8% to $528,000 from $575,000.
It is not uncommon to have big percentage-point changes for sales and median prices in neighbor island housing markets because the number of sales each month is relatively small. Also, the two trade associations count sales of new homes, which can close in bunches, along with previously owned homes.
The median price is a point at which half the sales were at a higher price and half at a lower price. This measure is affected by the quality, size, age and location of homes sold.
