West Hawaii Real Estate Update.
“North Kona home sales continue to rock!” stated Lance Owens, a Realtor with LUVA Real Estate.
North Kona posted a 58.62% increase year over year for number of sales, with 46 homes sold last month versus 29 in August 2012. Owens says “It’s the best August since 2006, and 2006 only beat it out by 1 home sale.”
“I was looking at the amount of money that exchanged hands during the month of August, and found it was UP 105% over last August (16 million vs. almost 34 million). The median price for August to August, is up only 8%, but year to date is up almost 15%, all good indicators that home sales are well into the recovery period”, Owens continued.
Residential Median Prices
The median price for residential property in North Kona was $487,000, an 8.22% gain from last year. The media price for a home in South Kona was $350,00 up 9.55% from 2012 and South Kohala had a median price of $415,000 for a single family home, a 10.67% increase year over year. The median prices of condos have increased by 25% in North Kona from August 2012 to 2013.
The Big Island of Hawaii is seeing an overall continued upbeat real estate activity as the median price for all homes on the island increased by 20% in 2013.
People are looking at Puna for land deals, as well. Vacant land sales jumped 66% year over year from 51 deals done in 2012 to 85 this past month.
Inventory continues to decline in the Kailua Kona market.
LUVA Real Estate specializes in West Hawaii real estate and our agents are happy to send anyone who would new homes as they come on the market in North Kona, South Kona, South Kohala and North Kohala.
Contact us at info@LUVARealEstate.com
West Hawaii Real Estate: Search Homes