Home sales slowed on Hawaii island and Kauai last month while median prices mostly rose, according to trade association statistics released Tuesday.
The biggest slowdown in sale volume occurred on Kauai where the number of single-family homes sold in February fell by just over half to 26 from 53 in the same month last year.
Kauai condo sales fell 36% to 23 last month from 36 a year earlier.
As for how much homes on Kauai sold for, the median price for single-family homes dipped 5% to $689,000 in February from $725,000 a year earlier. Kauai's median condo sale price rose 7% to $355,000 from $333,000 in the same period.
On Hawaii island the sale volume slowdown was more modest and median prices were more positive than on Kauai, according to the data prepared by Hawaii Information Service for the Kauai Board of Realtors and Hawaii Island Realtors.
The number of single-family homes sold last month on the Big Island eased by 5% to 152 from 160 a year earlier. Condo sales slipped 8% to 55 from 60 in the same period.
Single-family homes on the Big Island sold for a median $382,000 last month, up 19% from $322,500 a year earlier. The island's median condo sale price rose 14% to $380,000 from $332,500.
The median price is a point at which half the sales were for a higher price and half for a lower price. The measure can be significantly influenced by the age, size, condition and location of homes sold. This influence is typically bigger when relatively few sales are involved. The two trade associations also count new homes in addition to previously owned homes, unlike the Honolulu Board of Realtors, which counts only previously owned homes.
