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August 14th, 2015 5:30 PM by Korby Matsen
The number of single family homes sold in July 2015 in Kohala increased slightly from July 2014, with 40 homes selling in July 2015, up from 32 homes in July 2014. That increase was not shared by both North Kohala and South Kohala, as North Kohala was down slightly from 7 homes sold down to 5 homes sold, while South Kohala enjoyed an increase from 25 homes sold up to 35 homes sold. Like North Kohala’s results, the number of condos sold in July 2015 was also down slightly, dipping from 18 units in July 2014 to 12 units this July.
Along with the increase in the number of single family homes sold in July, the overall year-to-date volume also increased in 2015, with 167 homes being sold by this time last year and 192 homes being sold this year. Although that overall increase did not happen in both parts of Kohala. The number of single family homes in North Kohala decreased from 41 homes sold by this time last year to 23 homes this year. But South Kohala picked up the slack, with the number of single family homes jumping from 126 homes last year to 169 homes sold this year. The number of condos sold year-to-date is 127 units, down a slight 8 units from 135 units sold in 2014.
So, as the volume of single family homes sold in July 2015 from July 2014 in North and South Kohala was a mixed number between the two, the median sales price number was also mixed. The median sale price in South Kohala increased from $449,000 in July 2014 to $518,000 in July of this year, while in North Kohala the median sales price in July 2015 decreased to $555,000 from $614,000 in July 2014. The condo market also saw a decrease in the median sales price, with the July 2015 number decreasing to $402,000 from $491,000 in July 2014.
Although the median sales price statistic was somewhat mixed for July 2015, the year-to-date number for all areas moved upwards. South Kohala had the largest increase, with the year-to-date median sales price increasing from $443,164 in 2014 to $485,000 this year, a jump of 9.44%. The single family homes in North Kohala had quite a smaller increase, moving only 0.16%, from $614,000 in 2014 to $615,000 this year. The condo market’s increase was also slight, rising just 1.08% from $465,000 in 2014 to $470,000 this year.
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July 2015 Market Highlights
*All information taken from Hawaii Information Services. MLS Sales Data shown herein, while not guaranteed, is derived from sources deemed reliable.