Charts of historical prices of Kauai real estate suggests that the decline in prices is behind us and that we are at the beginning of a recovery. The one exception is Kauai condominiums which still show signs of weakness. Much of that is due to the recent buying frenzy of hotel-style lodging units at Kauai Beach Resort and Islander on the Beach. Some of these units are selling for 10 cents on the dollar of original purchase price which drags the overall condo market statistics down. If those 2 market areas are ignored, data shows the remainder of the Kauai condo market is recovering.
With prices stabilizing & starting to recover and mortgage interest rates forecast to climb, this would appear to be the sweet spot for buyers of Kauai real estate.
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The 2nd quarter 2011 residential median sales price was $485,500, up from the low point seen in early 2009.
What appears to be a double dip in condo prices may only be a reflection of hot sales in the sub-$50,000 market in lodging units which are selling rapidly. Median sales price in the 2nd quarter of 2011 was $208,333
The 2nd quarter 2011 vacant land median sales price was $243,000, up substantially from the 2009 lows.