Feb 5, 2020, 5:32pm EST
Single-family home sales on Hawaii Island got off to a roaring start in January, with a 44% increase in sales and a 25% increase in the median price, compared to a year ago, while the median price of a condominium jumped 32%, according to statistics provided by Hawaii Information Service on behalf of Hawaii Island Realtors.
There were 213 single-family homes sold on Hawaii Island last month, an increase of 43.92% from 148 homes sold in January 2019. The median price of those homes was $450,000, which was 25.05% higher than the median price a year ago, which was $359,850.
The median price of a condo on Hawaii Island in January was $430,000, which was an increase of 32.31% from $325,000 in January 2019. The number of condo units sold last month, however, declined to 59 units, which was 7.81% fewer than the 64 units that sold in January 2019.
Single-family home sales for all of 2019 rose 3.5%, while condo sales rose by 3.36%. Prices for both categories also rose last year — the median price of a single-family home rose 5.7% to $378,920 for all of 2019, while the median price of a condo rose 3.43% to $362,000 for the year.