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September 29th, 2015 11:14 AM by Korby Matsen
Search all homes for sale on the Kohala Coast by Clicking the Link.The number of single family homes sold in August 2015 in Kohala decreased slightly from August 2014, with 27 homes selling in August 2014 down to 22 homes in August 2015. That decrease happened in both North Kohala (from 4 homes down to 2) and South Kohala (from 23 homes down to 20). The number of condos sold was also down year over year in August dropping from 18 units in 2014 to 10 units this year.
Although there was a slight decrease in the number of single family homes sold in August, the overall year-to-date volume has increase in 2015 over 2014, with 194 homes being by this time last year and 215 homes being sold this year. That overall increase did not happen in both parts of Kohala. The number of single family homes in North Kohala decreased dramatically from 49 homes sold by this time last year to 25 homes this year. South Kohala helped to pick up the slack though, with the number of single family homes jumping from 149 homes last year to 190 homes sold this year. The number of condos sold year-to-date is 137 units, down a slight 16 units from 153 units sold in 2014.
Although there was a decrease in the number of single family homes sold in August 2015 from August 2014 in North and South Kohala the change in the median sales price went in different directions between the two. The median sale price in South Kohala increased from $475,000 in August 2014 to $526,500 in August of this year, while the North Kohala median sales price in August 2015 decreased a whopping $349,000, going from $912,500 in August 2014 to $563,500 in August of this year. This number does tend to swing widely though, the lack of volume of homes sold does not allow for a reasonable sampling. The condo market also saw a dramatic decrease, with the August 2015 median sales price decreasing to $575,000 from $679,500 in August 2014.
Although the median sales price statistic was somewhat mixed in August 2015, the year-to-date numbers were almost all moving in the same upward direction. Single family homes in South Kohala had the largest increase, percentage wise, increasing 7.89% from $450,000 in 2014 to $485,500 this year. The single family homes in North Kohala had a slight increase of 0.16%, going from $614,000 in 2014 to $615,000 this year. Meanwhile, the condo market had a surprising decrease, dipping 1.05% from $475,000 in 2014 to $470,000 this year.
If you are thinking of buying or selling a home on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in. Mahalo.
August 2015 Market Highlights