Residential real estate sales volume rose 30 percent on the Big Island in March, according to the MLS Database compiled by the Hawaii Information Service. Sales volume stood at $54.8 million in March 2012, but reached $71.1 million inMarch 2013.
For the year to date, the Big Island has seen a 25 percent increase in overall sales volume, hitting $187.9 million for the first three months of the year. The actual number of sales of Big Island residential properties dropped 13.7 percent in March, however, and a little more than half a percent for the year -to-date.
Sales of vacant land island-wide jumped 30 percent in March and 30 percent so far this year, with sales volume jumping 6.6 percent for March and 15.7 percent for the year-to-date.
Condomimium sales showed modest increases, 3.9 percent in March and 6.1 percent year-to-date, while sales volume is up 10.4 percent for March and 16.83 percent for the year-to-date.
Only one commercial property sale, and one business sale, was completed in March 2012, and none in March this year in either category. For the year-to-date, commercial sales aredown 55.6 percent on a drop from nine sales in 2012 to 4 in March 2013.
The numbers reflect an across-the-board, year-to-date jump in the median sales price. The residential median sales price is up 17.4 percent; vacant land is up 3.3 percent; commercial properties are up 27.3 percent; condominiums are up 2.5 percent; and the median sales price for businesses is up by 900 percent, based on the sale of one business this year on the Big Island.