As we enter the midway point of the year, we have seen a mostly stable market. We have been keeping our eyes open for signs of a real estate “double dip” and so far we have had very mixed data. We do expect to see foreclosures keeping prices where they are, and there may be some declines in certain segments of the market, but overall we do not seem to be seeing the large drops across the board of a few years ago. We’ll look at June’s numbers and the 2nd Quarter numbers. June Data North Kona We had 41 residential sales in North Kona last month. In May we had 35 and last year we had 45 for June, so it looks like we are in the same ballpark. We had 31 condos sold for the month compared to 32 last year and 35 in May, so again we are in the same ballpark. The median price for residential sales was $399,000 which is down a little from last year when the median price was $420,000. Last month the median was $421,000. The condo median price was $207,000 which was up a ridiculous 45% from last years number of $142,500. This looks to be a bit of an aberration since we had a median of $167,000 in May South Kohala South Kohala had 19 residential sales after we had 20 last year and 24 in May. We saw 16 condos sold compared to 19 last year and 23 in May. The median residential price was $345,000 compared to $317,000 last year and $315,000 in May. That’s a pretty big jump, we’ll keep an eye on this to see if it holds in the months ahead, but I expect it will drop next month. The median condo price was $462,500 up from $335,000 last year (38%) and up from $385,150 in May. We see far fewer of the lower priced resort condos than last year, and we are now seeing some of the higher priced resort condos starting to sell. 2nd Quarter 2011 Entire Island This is where we start to see some possible downtrend in the market. Second quarter residential and condo sales for the entire island totaled 586. Last year that number was 612 so it looks pretty flat with only a 4.2% decline. However we are still up year to date by 5.9%. Median residential for the island is down 1.95% year to date. North Kona Units Sold 
North Kona Median Price 
South Kohala Units Sold 
South Kohala Median Price 
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