Good News – Big Island Real Estate values increased 13 percent in 2013
The median price of a single-family home on Big Island increased more than 13 percent in 2013 compared to 2012, while condominium prices declined, according to figures from Hawaii Information Service.
The median price of a single-family home rose to $295,000 in 2013 from $260,000 in 2012, while the number of sales grew 16.48 percent to 1,880 in 2013 from 1,614 in 2012.
Condo sales increased as well, from 596 to 642, an increase of 8.26 percent.
The median price of a condominium declined 2.9 percent to $250.500, from $258,000 in 2012.
Here’s a breakdown by neighborhood on Big Island.
• Puna: The median price of a home increased 11.41 percent, to $166,000 from $114,000. Single-family home sales were rose 18.5 percent to 589 from 497 sales in 2012.
• South Hilo: The median price of a single-family home increased 16.9 percent, to $290,000 from $248,000. Residential real estate sales increased 28 percent from 252 from 197.
• North Hilo: The median price of a single-family home decreased 1,67 percent to $295,000 from $ $300,000 in 2012. Single-family home sales increased 35 percent, to 27 from 20 in 2012.
• Hamakua: The median price for a single-family home increased 21,7 percent, to $319,000 from $262,000 in 2012. Single-family home sales increased 16 percent to 50 from 43.
• North Kohala: The median price here was $439,000, a 3.42-percent decrease from $455,000. Single-family sales increased 34 percent,to 66 from 49.
• South Kohala: The median price ballooned 21 percent to $412,500, from $340,000. Single-family home sales increased 6.4 percent, to 216 from 203.
• North Kona: The median price for a single-family home rose 11.7 percent to $445,000, from $398,250. Single-family home sales increased 13.2 percent,to 487 from 430.
• South Kona: The median price rose about 10 percent, to $358,000 from $325,0000. Single-family home sales increased 29 percent, to 85 from 65.
• Kau: The median price rose 31 percent, to $140,000 from $106,500. Single-family home sales decreased 0.9 percent,to 109 from 110.
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