April sales statistics are now available for both Maui and Kauai. Both
markets have seen sharp declines in both median sales price and number of sales
for the current year compared to the same period in 2008. As always, I caution
that median sales price is heavily influenced by what price category is selling
and does not necessarily represent changes in values of an individual property.
Here are the year-to-date sales statistics through April 2009 compared to the same period in 2008. I previously posted Kauai statistics
HERE before Maui
was available and that post contains monthly data in addition to the year-to-date values.
Clearly both markets continue to see much lower number of sales than last year
and lower prices as well (Maui Vacant Land an anomaly). There remains a
large amount of inventory to be cleared out before price pressures ease.
An upturn in number of sales is key to that and there are hints that this may be
happening.
This Month's Update
Year-to-Date Median Sales Price (Jan-Apr 2009)
| Type |
Kauai |
% Change |
|
Maui |
% Change |
| Single Family Homes |
$479,000 |
-27% |
|
$519,000 |
-13% |
| Condominiums |
$238,000 |
-58% |
|
$422,500 |
-28% |
| Vacant Land |
$225,000 |
-67% |
|
$862,500 |
+11% |
Year-to-Date Number of Sales (Jan-Apr 2009)
| Type |
Kauai |
% Change |
|
Maui |
% Change |
| Single Family Homes |
67 |
-32% |
|
163 |
-47% |
| Condominiums |
41 |
-42% |
|
182 |
-51% |
| Vacant Land |
21 |
-50% |
|
34 |
-31% |
Last Month's Figures
Year-to-Date Median Sales Price (Jan-Mar 2009)
| Type |
Kauai |
% Change |
|
Maui |
% Change |
| Single Family Homes |
$408,569 |
-38% |
|
$537,500 |
-11% |
| Condominiums |
$290,000 |
-49% |
|
$456,000 |
-22% |
| Vacant Land |
$209,000 |
-76% |
|
$290,000 |
-68% |
Year-to-Date Number of Sales (Jan-Mar 2009)
| Type |
Kauai |
% Change |
|
Maui |
% Change |
| Single Family Homes |
21 |
-56% |
|
113 |
-50% |
| Condominiums |
17 |
-53% |
|
148 |
-46% |
| Vacant Land |
7 |
-68% |
|
16 |
-61% |
[Data is deemed reliable but is not guaranteed and should not be relied on for buying or selling decisions.
There are likely to be differing opinions and interpretations of the data.]
Aloha!
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