Big Isle, Kauai home
prices keep soaring

The median sale price of Kauai
condominiums jumped nearly
85 percent last month

Homes sales on the Big Island and Kauai continued their New Year's upward trend with price increases in both single-family homes and condominiums.

Single-family home sales and prices on the Big Island continued to move ahead in February with 163 homes sold during the month and a median price of $262,650, according to the Hawaii Information Service. That marks an 18.8 percent increase from a median price of $221,000 a year ago, when 145 homes were sold.

There were 71 condominium sales on the Big Island in February, four fewer than the previous year.

But condo sales prices showed no sign of a slowdown. The median price last month was $195,000, almost 38 percent higher than the previous February.

Big Island real estate agent Gary Davis, of Clark Realty in Waimea, said he believes more sales would occur if not for inventory shortages.

"Homes are coming on the market and being picked up real fast. The one thing putting a damper on even more sales are the people who would sell but have little inventory to choose (for a replacement property) from so we are seeing more remodeling," Davis said.

Kauai home prices and sales volume showed increases in both single-family homes and condominiums last month, although condominiums were clearly the hot ticket with prices pushing ahead of single-family homes.

There were 45 single-family homes sold on the Garden Isle in February, 32 percent more than the 34 sold in the previous year, according to the Hawaii Information Service. Sales prices for homes in the month rose just more than 29 percent to a median of $410,000 from $317,500 last year.

There were 47 condominium sales, up nearly 68 percent from 28 sales the previous year. Condo sales prices jumped ahead of single-family home prices, rising to a median of $420,000 -- almost 85 percent above the previous year's median of $227,253.



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