Big Isle and Kauai realty figures for July offer mixed signals
POSTED: Thursday, August 06, 2009
Big Island and Kauai median home prices dropped again in July, both compared with the same month last year, according to the latest statistics from Hawaii Information Service.
However, on Kauai, the median price rose compared with June.
On the Big Island, the median price dropped to $260,000 from $299,000 a year ago. In June, the median price was $285,000.
Home sales on the Big Island, however, picked up last month, with 117 homes sold—17 more than in both July 2008 and the previous month.
Arabel Camblor, president of the Hawaii Island Board of Realtors, said that based on quarterly statistics, she believes the real estate market will take a turn for the better.
“;I think we've made the turn here,”; said Camblor. “;In Hilo, I think we have yet to hit the bottom, but in some areas they've made a turn.”;
Home sales went up in Puna, North Kona, and both North and South Kohala, while remaining the same in North and South Hilo as well as South Kona.
On Kauai, the median home price last month dropped to $450,000 from $575,000 in July 2008, but rose slightly, by 2.3 percent, from $440,000 in June.
Home sales on the Garden Isle fell compared with July 2008, from 31 to 27, but rose compared with the previous month's 21.
On the condo front, real estate agents on the Big Island sold 30 properties, two fewer than a year ago despite a lower median price of $242,500.
The July median this year was 25.3 percent lower than the $324,500 of a year ago.
In June, 28 condos sold, and the median price was $310,500.
On Kauai, condo prices jumped in July to $525,000, 20.7 percent higher than a year ago, when it was $435,000. In June, the median condo price was $375,000.
Sales, at 15, remained the same as a year ago, as well as in June.
Debra Blachowiak, principal broker of Sleeping Giant Sotheby's, said she does not see a turn in the market yet for the Garden Isle.
“;I do believe it's coming, but I don't believe it's in sight,”; said Blachowiak. “;We have to see how 2009 ends. I don't believe we're going to see a huge uptick, but I do believe it's slowing and leveling off in different areas.”;
NEIGHBOR ISLAND PRICES
The number of homes sold on the Big Island and Kauai in July, with the median price and percentage change from the same month last year:
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