The Kauai real estate market has been in sync with most of the nation as sales prices have been in decline since our market peaked in 2006. There are now hints that we may be starting to stabilize which is what some are forecasting for 2010 barring unexpected events. Our market is unique in that it has higher-priced resort properties mixed in with our local housing data. A scarcity of resort property buyers in recent years has resulted in a heavier weighting of local housing data. This weighting change is believed to represent a portion of the price decline although it's not possible to say how much.
Island-wide data follows for residential, condo, and vacant land median sales prices tabulated quarterly by our local MLS system. Additional breakdown by zone is available for my clients upon request.
The 3rd quarter 2009 residential median sales price was $470,500 with a hint of stabliization.
The 3rd quarter 2009 condominium median sales price was $357,500 with a hint of stabliization
The 3rd quarter 2009 vacant land median sales price was $291,252 with a slilght uptick in 2009.
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