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The Honolulu Advertiser
Posted on: Wednesday, February 7, 2007

Big Island, Kaua'i housing sales fall

Advertiser Staff

Single-family home and condominium sales transactions fell on the Big Island and Kaua'i during January as the markets continued to cool. But sales activity on Maui was mixed.

Figures compiled by the Hawaii Information Service show sales of previously owned single-family homes declined 26 percent in Hawai'i County and 11 percent on the Garden Island last month. The Realtors Association of Maui reported a 27 percent increase for single-family homes on the Valley Isle.

A total of 111 single-family homes were sold on the Big Island, while 32 transactions were completed on Kaua'i. On Maui, there were 109 sales.

Prices for single-family homes moved in the opposite direction from sales on all three islands.

The Big Island's median sales price for a single-family residence climbed to $400,000, a 3.7 percent increase from January 2006.

Kaua'i's median single-family home price rose by more than 25 percent to $824,500 compared to a year earlier.

Maui's median single-family home price declined by 10 percent to $625,000 in the same comparable period.

For condos, purchases last month compared to January 2006 dropped on all three islands, while prices were mixed.

On Kaua'i, sales plunged and the median price was up modestly. There were 17 completed condo sales compared with 57 in the month a year prior. The median condo sales price rose 5.8 percent to $455,000.

Big Island condo sales totaled 31. That was less than half of the January 2006 total. The median price of the condos sold was $346,300, or 18 percent lower than the previous year.

Maui condo sales totaled 85, down 35 percent from January 2006. The median price was $555,000, up 28 percent in the same period.

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