The Kohala Real Estate Update for November 2020 is for this beautiful location on the west coast of the Big Island of Hawaii. It is called the Big Island as to differentiate it between the State of Hawaii and the Island of Hawaii. Kohala is split into two areas, North Kohala and South Kohala, with North Kohala covering the more rural, northern end of the island, containing the historic small towns of Hawi, Kapa’au, and the Kohala Ranch communities.
South Kohala begins just south of Kohala Ranch and contains the major, world class resorts of Mauna Kea, Mauna Lani and 
Waikoloa Beach Resorts’, the small town of Waikoloa Village, located 6 miles inland from the resorts and Waimea, the beautiful town in the interior Waimea Valley. You can find market updates for many of these areas by visiting the Market Update Page on my website.
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The number of single-family homes sold in Kohala in November 2020 was up moderately over last November, with 27 homes selling in November 2019, while 35 homes were sold this November. This increase in sales volume happened in both parts of Kohala. In South Kohala, the volume increased just slightly, from 20 homes to 21, and in North Kohala there was an 
increase of 7 sales, from 7 homes up to 14. The number of condos sold was also up significantly in November 2020, with 35 units selling this year, compared to 17 units in November 1029.
As with the November monthly number of single-family homes sold, the overall year-to-date volume also increased in 2020 over 2019, however slight. There were 318 homes sold by this time last year, while 319 homes have sold this year. This overall increase was not enjoyed in both parts of Kohala, with the number of single-family homes in North Kohala increasing from 66 homes sold 2019, to 75 sold homes this year, while South Kohala decreased from 252 homes last year to 244 homes sold in 2020. The number of condos sold year-to-date was also down marginally, falling from 281 units sold in 2019, to 237 units sold this year.
Like the the sales volume of homes in Kohala that experienced increases in November 2020 in most market segments, the change in median sales price also experienced impressive gains. The median sale price in South Kohala experienced a small increase, rising from $630,000 in November 2019 to $650,000 in November of this year, while North Kohala experienced a 
spectacular increase, rising from $390,000 in November 2019 to a whopping $710,000 this November. The condo market also experienced spectacular gains, with the November median sales price rising from $535,000 in 2019 to $728,222 this year.
Like the monthly median sales price numbers, the year-to-date numbers in November 2020 were also all up. The year-to-date median sales price of single-family homes in North Kohala experienced the smallest increase, a still impressive 6.40%, from $742,000 in 2019 to $790,000 this year. The median price of single-family homes in South Kohala had an even higher increase, rising 11.39% from $597,000 in 2019 to $665,000 this year, while the condo market experienced the biggest increase, rising an amazing 16.26%, from $529,500 last year to $615,000 in 2020.
Analysis: Like most of 2020, the monthly sales volume and median sales price numbers in November were all quite strong. The median sales price, both monthly and year-to-date, are up in all markets, and the only year-to-date sales volume that has not surpassed 2019 numbers are condo sales. The real estate market has been one of the few economic bight spots during this Covid-19 pandemic.
If you are thinking of buying or selling a home on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in buying or selling in. Mahalo.
Kohala Real Estate Update for November 2020 Highlights
- No. of single-family homes sold in North Kohala – 14
- No. of single-family homes sold in South Kohala – 21
- No. of condo units sold in South Kohala – 35
- YTD No. of single-family homes sold in North Kohala – 75
- YTD No. of single-family homes sold in South Kohala – 244
- YTD No. of condo units sold in South Kohala – 237
- Median sales price of a single-family home in North Kohala – $710,000
- Median sales price of a single-family home in South Kohala – $650,000
- Median sales price of a condo in South Kohala – $728,222
- YTD median sales price of a single-family home in North Kohala – $790,000
- YTD median sales price of a single-family home in South Kohala – $665,000
- YTD median sales price of a condo in South Kohala – $615,000
If you enjoyed this update, you may like Mauna Lani Resort Market Update for Q3 2020.