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The Honolulu Advertiser
Updated at 5:04 p.m., Wednesday, March 5, 2008

Home sales fall on Big Isle, Kauai; prices mostly rise

Advertiser Staff

Sales of single-family homes and condominiums fell sharply on the Big Island and Kaua'i in February, although prices were mostly higher, according to data released today by Hawaii Information Service.

The biggest market, Big Island single-family homes, had 99 sales in February, down 23 percent from 128 sales in the same month last year. The median price was $395,000, down 7 percent from $425,000 a year earlier.

There were 26 Big Island condo sales last month, a 24 percent decline from 34 sales a year earlier. The median price was $453,500, up 13 percent from $400,000 in the same period.

The most active area for Big Island single-family home sales was Puna, with 30 sales. Puna's median single-family home sale price of $205,000 was the lowest on the island. The highest median single-family home price was $575,000 in North Kona, with a total of 22 sales. South Kohala recorded the most condo sales on the island at 15, for a median price of $700,000.

On Kaua'i, there were 24 single-family home sales in January, down 25 percent from 32 a year earlier. The median price was $760,000, up 26 percent from $601,500 in the same period.

Kaua'i condo sales in January totaled 16, down 51 percent from a year earlier. The median price was $565,000, up 19 percent from $475,000 in the same period.

By region on Kaua'i, the highest median single-family home price was $1,6 million in Koloa, where there were six sales. The lowest median single-family home price was $350,000 in Waimea, where there was one sale. For condos, the high median was $799,000 in Hanalei, where there were seven sales, and the low was $359,500 in Kawaihau, where there were four sales.