Condo sales, prices soar on Kauai in June

This article was written and published by Pacific Business News, please click her to see the live article:

Condominium sales jumped on Kauai last month, along with prices, while single-family homes posted a more modest price gain on flat sales, according to data from Hawaii Information Service on behalf of the Kauai Board of Realtors.

There were 71 condominium units sold in June, a 39.22 percent increase from 51 units sold during the same month last year. The median price of those condo units was $599,000, an increase of 39.3 percent from $430,000 in June 2017.

The median price of a single-family home on Kauai in June was $752,500, which was an increase of 7.12 percent from $702,500 during the same month last year.

The median price of single-family homes in the Hanalei district on Kauai’s North Shore, where flooding damaged dozens of homes and cut off access to others in Haena, was $1.01 million in June, a 16.12 percent decline from $1.2 million in June 2017. Sales in the area dropped to eight single-family homes sold in June, a 57.89 percent decline from 19 sales in June 2017.

Condominium sales in Hanalei, which includes Princeville, dropped to 10 units sold, a decline of 37.5 percent from 18 units sold during the same month last year. However, the median price of those units rose 17.74 percent to $624,000, from $530,000 in June 2018.

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