Want Market Reports Sent to Your Inbox?

Want Market Reports sent to your Inbox ? Sign up here for Monthly Updates.

Market Reports Sign Up

Kohala Coast Real Estate News

Kohala Real Estate Market Report for June 2016

July 19th, 2016 2:44 PM by Korby Matsen



The Kohala Coast is located on the west coast of the Big Island of Hawaii. It is called the Big Island as to not confuse it between the State of Hawaii and the Island of Hawaii. Kohala is split into two areas, North Kohala and South Kohala, with North Kohala covering the more rural northern end of the island.  South Kohala covers the major, world class resorts of Mauna Kea Resort, Mauna Lani Resort and Waikoloa Beach Resort, the small town of Waikoloa Village, located 6 miles inland from the resorts and Waimea, the beautiful town in the interior Waimea Valley. You can find market updates for many of these areas by visiting the Market Update Page on my website.

 

To view all homes for sale on the Kohala Coast visit my Home Search Page.

To instantly find out what your Kohala Coast home is worth visit my Home ValuationPage.

 

The number of single family homes sold in June 2016 in Kohala decreased modestly over June 2015, with 19 homes selling in June this year, down from 26 homes selling in June 2015. That decrease came in large part because of the decrease in sales in South Kohala, as the volume in North Kohala actually increased (2 homes sold in 2015 to 5 homes this year). South Kohala saw its sales volume in June 2016 drop significantly over June of last year (from 24 homes down to 14 homes). The number of condos sold in June also saw a decrease, dipping slightly from 16 units last year to 14 units this year.  

 

Despite the drop in the monthly number, the year to date volume saw an increase in 2016, with 164 homes being sold this year, as opposed to 152 homes being sold by this time in 2015.  This overall increase was not, however, enjoyed in both parts of Kohala, with the number of single family homes in North Kohala increasing from 18 homes sold in 2015, to 32 homes this year, while the South Kohala sales volume dropped slightly from 134 sold homes last year to 132 homes sold this year. The year-to-date number of condos sold also enjoyed an increase, rising from 115 units sold last year, to 122 units sold in 2016.

 

As with the volume of single family homes sold in June 2016 compared to June 2015, the change in median sales price did not increase in both the North Kohala and South Kohala regions. The median sale price in South Kohala rose from $499,500 in June 2015 to $553,750 in June of this year, while in North Kohala, the median sales price in June 2016 dropped a staggering $448,750 to $585,000 from $1,033,750 in June 2015. This type of dramatic change in median price is quite common when dealing with such a low volume of sales. The condo market also experienced a healthy price increase, with the June 2016 median sales price rising to $477,500 from $415,000 in June 2015.

 

With such healthy rises in the monthly median sales price in most areas and sectors in June 2016, you would expect the same with the year-to-date numbers; well you would be partly right. The only sector to see a decrease was the condo market. The median year-to-date sales price in the condo market continued a trend that first started in January by dropping a modest 5.96% from $470,000 in 2015 to $442,000 this year. Meanwhile, North Kohala saw a double digit change in the other direction for its median sales price, increasing an robust  22.53% from $632,000 in 2015 to $775,000 this year, again, this had more to do with the low number of sales in that area. The single family homes in South Kohala had a slight increase, edging upward 3.23%, from $479,500 in 2015 to $495,000 this year.

 

If you are thinking of buying or selling a home anywhere on the Kohala Coast, contact me. I will produce a customized market report for the neighborhood or area you are interested in. Or you can find out what your Kohala Coast home is worth instantly by visiting my Home Valuation Page. To view more Market Updates from the different areas of the Kohala Coast, visit the Market Update Page.

Mahalo.

 

June 2016 Kohala Coast Market Highlights

No. of single family homes sold in North Kohala – 7

No. of single family homes sold in South Kohala - 20

No. of condo units sold in South Kohala - 22

YTD No. of single family homes sold in North Kohala – 27

YTD No. of single family homes sold in South Kohala – 117

YTD No. of condo units sold in South Kohala - 108

Median sales price of a single family home in North Kohala - $426,000

Median sales price of a single family home in South Kohala - $483,000

Median sales price of a condo in South Kohala - $500,000

YTD median sales price of a single family home in North Kohala - $800,000

YTD median sales price of a single family home in South Kohala - $483,000

YTD median sales price of a condo in South Kohala - $442,000            


Archives:

My Favorite Blogs:

Sites That Link to This Blog: