2010 Totals 2010 has finally come to a close, and as I mentioned last month, things definitely improved from 2009. I’m attaching some numbers in chart form below to make it easy to see the improvements. Units Sold | 2009 | 2010 | Change | All Island Residential | 1246 | 1502 | 20.55% | All Island Condo | 328 | 519 | 57.14% | North Kona Residential | 290 | 380 | 31.03% | North Kona Condo | 165 | 305 | 84.85% | South Kohala Residential | 171 | 179 | 4.68% | South Kohala Condo | 111 | 179 | 61.26% |
Median Price | 2009 | 2010 | Change | All Island Residential | 275,000 | 255,000 | -7.27% | All Island Condo | 299,000 | 270,000 | -9.7% | North Kona Residential | 432,000 | 410,000 | -5.09% | North Kona Condo | 270,188 | 221,500 | -18.02% | South Kohala Residential | 370,000 | 333,000 | -10.0% | South Kohala Condo | 450,000 | 381,500 | -15.22% |
While prices declined, units sold went up. This is a welcome change from recent years when both prices and units declined. These numbers tell us that while prices are going down, many buyers see a good purchase opportunity. December Data Median Price | Dec 2009 | Dec 2010 | Change | All Island Residential | 127 | 139 | 9.45% | All Island Condo | 37 | 61 | 64.86% | North Kona Residential | 31 | 35 | 12.9% | North Kona Condo | 21 | 34 | 61.9% | South Kohala Residential | 14 | 17 | 21.43% | South Kohala Condo | 12 | 25 | 108.33% |
Median Price | Dec 2009 | Dec 2010 | Change | All Island Residential | 275,000 | 235,450 | -14.38% | All Island Condo | 272,710 | 260,000 | -4.66% | North Kona Residential | 425,500 | 389,500 | -8.46% | North Kona Condo | 225,000 | 176,000 | -21.78% | South Kohala Residential | 459,500 | 305,000 | -33.62% | South Kohala Condo | 390,500 | 350,000 | -10.37% |
Units Sold By Quarter Last 2 Years Median Price By Quarter Last 2 Years When we compare where we are today to where we were 2 years ago, it’s easy to get optimistic. As I have been saying for a while now, prices are dropping modestly but there is much more money entering the market. While Kohala Residential is still lagging a bit, the market in North Kona is much healthier. Interest rates for a 30 year fixed rate mortgage have been straddling the 5.0% mark for the last couple weeks, but are up from just a few weeks ago. |