honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser
Posted on: Saturday, October 6, 2007

Fewer sales, lower prices for homes on Kauai, Big Island

Advertiser Staff

Fewer existing homes were sold on the Big Island and Kaua'i last month amid a continued slowing in the state's housing market.

On the Big Island, single-family home sales dropped 15 percent to 120 in September, compared with 141 a year earlier, according to data compiled by Hawaii Information Service. The median price dipped 2 percent to $412,475 compared to $420,000 in the year-ago period.

The median price is a point at which half the sales were for more and half for less.

Big Island condo sales fell 43 percent to 32 in September from 56 a year earlier. The median price rose 4 percent to $375,000 from $361,883 in September 2006.

On Kaua'i single-family home sales fell 8 percent in September to 36 sales compared with the year-ago period. The median price for Kaua'i's single-family homes also was lower at $672,500, which was an 8 percent decrease from $730,000 during September 2006.

There were 20 Kaua'i condo sales in September, which was down 57 percent from 47 sales a year earlier. The median price was $590,000, which was down 1 percent from $595,000.

Sales of existing O'ahu homes were reported earlier this week. The median single-family home resale price last month was $650,000, up 4.8 percent from a year prior. Sales volume fell 29 percent to 255 transactions.

O'ahu condominium sales declined about 14 percent to 414 last month, while the median sales price was $335,000. That was a 4.7 percent increase from a year previous.

Maui sales have yet to be released.