Kailua-Kona saw a 27% increase in Single Family Residential (SFR) home sales as compared to February '09. Median sales prices were actually up nearly 10%. South Kona, Hamakua, and North Hilo also saw an increase in the Median prices. Kohala Coast home sales dropped 47% for February and the median price dropped 4%. Puna homes sales increased 33% this month vs. Feb '09. The Big Island as a whole saw a slight increase in home sales and a 19% drop in Median prices.
| Big Island Hawaii home Sales Feb. 2009 vs. 2010 | |||||
| Homes Sold | |||||
| Neighborhood | 2009 | 2010 | Median Sale Prices | ||
North Kohala |
3 | 4 | $ 990,000 | $ 912,500 | |
Kohala Coast |
15 | 8 | $ 370,000 | $ 355,000 | |
Kailua – Kona |
15 | 19 | $ 419,000 | $ 460,000 | |
South Kona |
2 | 3 | $ 238,000 | $ 354,500 | |
| Kau | 7 | 6 | $ 149,900 | $ 117,500 | |
| Hamakua Coast |
2 | 1 | $ 547,500 | $ 600,000 | |
North Hilo |
1 | 2 | $ 294,000 | $ 415,000 | |
| Hilo | 12 | 11 | $ 287,500 | $ 225,000 | |
| Puna | 30 | 40 | $ 157,085 | $ 146,944 | |
| Big Island of Hawaii | 87 | 94 | $ 294,000 | $ 237,000 | |
The Kailua-Kona market for condo sales saw a 200% in Feb '10 and the median price dropped 23% for the month. On the Kohala Coast, sales are up 175% from same month last and median price is down 68%. For the Big Island, condo sales are up 200% and the median price is down 39%.
| Big Island Hawaii Condo Sales Feb. 2009 vs. 2010 | |||||
| Condos Sold | |||||
| Neighborhood | 2009 | 2010 | Median Sale Prices | ||
North Kohala |
0 | 0 | $ 0 | $ 0 | |
Kohala Coast |
4 | 11 | $ 1,387,500 | $ 445,000 | |
Kailua – Kona |
8 | 24 | $ 331,500 | $ 255,000 | |
South Kona |
0 | 0 | $ 0 | $ 0 | |
| Kau | 0 | 0 | $ 0 | $ 0 | |
| Hamakua Coast |
0 | 0 | $ 0 | $ 0 | |
North Hilo |
0 | 0 | $ 0 | $ 0 | |
| Hilo | 1 | 4 | $ 47,000 | $ 90,000 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 13 | 39 | $ 435,000 | $ 266,175 | |
Current Market Conditions as of Mar 5, 2010... There are 603 Single Family Homes on the market for the Kona/Kohala Coast, which is an increase from last month's 591 active listings, 120 homes in escrow, which is up from last month of 117 and 27 homes sold... 5 less than last month. At the current buying rate, we have a 22.3 month supply of homes, which is more than last month's 17.9 month supply.
Of the 603 Single Family Homes on the market, 29 are Foreclosure Listings and 115 are Short Sale Listings. A slight increase from January.
For Kona/Kohala Coast Condos, there are currently 561 on the market for sale, down from last month of 568. There are 108 in escrow, up from 91 last month and 35 sales, up from 25 last month. We have a 16 month supply of inventory, which is a decrease from last month's 23 month supply.
Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.