Big Island median home price $280,000
Big Island median home price $280,000 - 2004-08-10 - Pacific Business News (Honolulu)
Big Island median home price $280,000
The median price of a home on the Big Island fell from $288,500 in June to $280,000 in July, the Hawaii Information Service reported Monday. For condos, however, the median price rose from $275,000 to $290,750.
On the Hilo side of the island, only one home sold in Hamakua district and four in North Hilo, mainly in the low $300,000 range. South Hilo saw 32 sales for a median price of just $215,000, even lower than the previous month's $230,000. Puna saw 76 sales for a median price of $161,000, only $1,500 higher than the month before. Strictly in terms of price, these appear to be the last home bargains in the state. The trend extends to Kau district, on the southeast corner of the island, where 25 home sales set a median price of only $150,000.
On the Kona side it is a completely different story. Prices are far higher, even after slippage in some areas. Only one home sold in North Kohala, for $1.7 million, but 36 homes sold in South Kohala for a median price of $395,000, down from $428,000 the month before. North Kona saw 58 sales for a median price of $489,500, up from $442,500 a month before, while South Kona saw 10 sales for a median price of $397,000, well down from $550,000 a month before.
While 243 homes sold countywide in July, only 76 condos sold, and 62 of them were in North and South Kona, for median prices of $284,000 (North) and $359,000 (South).
Unlike Kauai, where vacant lots have been selling for as much as houses, 517 Big Island vacant lots sold last month for a median price of only $20,000.
The median is the level at which half of all items are more and half less. A median price is less skewed by a few really expensive or really cheap sales than an average would be.
Big Island median home price $280,000
The median price of a home on the Big Island fell from $288,500 in June to $280,000 in July, the Hawaii Information Service reported Monday. For condos, however, the median price rose from $275,000 to $290,750.
On the Hilo side of the island, only one home sold in Hamakua district and four in North Hilo, mainly in the low $300,000 range. South Hilo saw 32 sales for a median price of just $215,000, even lower than the previous month's $230,000. Puna saw 76 sales for a median price of $161,000, only $1,500 higher than the month before. Strictly in terms of price, these appear to be the last home bargains in the state. The trend extends to Kau district, on the southeast corner of the island, where 25 home sales set a median price of only $150,000.
On the Kona side it is a completely different story. Prices are far higher, even after slippage in some areas. Only one home sold in North Kohala, for $1.7 million, but 36 homes sold in South Kohala for a median price of $395,000, down from $428,000 the month before. North Kona saw 58 sales for a median price of $489,500, up from $442,500 a month before, while South Kona saw 10 sales for a median price of $397,000, well down from $550,000 a month before.
While 243 homes sold countywide in July, only 76 condos sold, and 62 of them were in North and South Kona, for median prices of $284,000 (North) and $359,000 (South).
Unlike Kauai, where vacant lots have been selling for as much as houses, 517 Big Island vacant lots sold last month for a median price of only $20,000.
The median is the level at which half of all items are more and half less. A median price is less skewed by a few really expensive or really cheap sales than an average would be.
posted by DP at 12:13 PM
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