January 23rd, 2016 10:09 AM by Korby Matsen
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The number of single family homes sold in December 2015 in Kohala had a modest increase over December 2014, with 43 homes selling this December, up from 28 homes in December of last year. That increase did not happen in both parts of Kohala though, North Kohala dipped slightly from 7 homes sold down to 6, while South Kohala increased from 21 homes sold up to 28. The number of condos sold also had a year over year increase in December, going from 17 units in December 2014 to 22 units this December.
As with the increase in the number of single family homes sold in December, the overall year-to-date volume also increased in 2015 over 2014, with 296 homes being sold in 2014 and 324 homes being sold this year. And again, that overall increase did not happen in both parts of Kohala. The number of single family homes in North Kohala decreased in 2015, dropping from 62 homes sold in 2014 to 45 homes sold this year. But South Kohala once again, picked up the slack, with the number of single family homes sold jumping from 234 homes in 2014 to 279 homes sold this year. The year-to-date number of condos sold in 2015 was 205 units, down from 218 units sold in 2014.
Along with the increase in the number of single family homes sold in December, the median sales price of Kohala homes also saw an increase. In December 2015, the median sale price South Kohala homes reached $476,000, up from $455,000 in December of last year. The North Kohala median sales price also increased in December 2015, a significant increase in fact, jumping to $742,500 from $399,000 in December 2014. The condo market continued that trend, with the December 2015 median sales price increasing to $399,000 from $326,500 in December 2014.
Although the monthly median sales price statistics for December 2015 were all positive, the same could not be said for the year-to-date numbers. The North Kohala median sales price of single family homes had the largest increase, a whopping 18.31%, going from $532,000 in 2014 to $630,000 this year. South Kohala also had a healthy increase, rising 7.78%, from $450,000 in 2014 to $485,000 this year. The condo market did not fair so well though, with the median sales price dropping 3.17%, from $472,500 in 2014 to $457,500 this year.
If are considering 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 buying or selling in.
December 2015 Market Highlight
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