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Are Kauai Sales Recovering?

Kauai Sales Statistics For March 2009

Kauai home sales statistics have been released for the month of March 2009 which completes the first quarter statistics. The figures are island-wide comparisons of current sales versus year ago sales. Today's high-anxiety environment will drive some to look at data draw conclusions which may or may not be valid. In my experience, monthly values fluctuate widely and I've always preferred to use year-to-date data to average out the fluctuations. Now that we have 3 months under our belt, year-to-date is becomming meaningful. The fact that March figures are better than year to date coincides with personal observations of agents which is encouraging.

It's important to keep in mind that the data reflects what is actually selling and not necessarily a change in value of a particular property. In my experience investor purchases tend to be in higher-priced resort areas whereas owner-occupant purchases tend to be more focused in value-priced areas. My buyer clients today are much more heavily weighted toward owner-occupant than in previous years when investors dominated. More sales in value-priced areas and fewer in higher-priced resort areas will drive median sales prices down.  Of course the number of sales speak for themselves although here again, an absence of investor sales will drive the numbers down. 

Number of Sales

Type March % Change Year-To-Date % Change
Residential 21 -30% 42 -46%
Condominium 11 -45% 29 -48%

Median Sales Price

Type March % Change Year-To-Date % Change
Residential $524,000 -23% $447,500 -33%
Condominium $220,000 -68% $254,000 -59%

Additional breakdown of this information is available to my clients upon request.

Search Kauai/Big Island | Search Maui | Email | About Me | Visit Website | Phone/Text (808) 651-4550Richard Dolbeare (RA), Century 21 All Islands logo

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[Data extracted from MLS reports. Information contained herein is deemed reliable but is not guaranteed. Buying & selling decisions should be made in consultation with a real estate professional and not on representations herein. Opinions are solely my own and do not necessarily reflect those of my brokerage.]

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Richard T. Dolbeare, R(B)

Keller Williams Realty(808) 651-4550

Aloha@RichardDolbeare.com 

www.MauiSandCastles.com and www.KauaiRocks.com 

 Hawaii multi-island specialist, Maui & Kauai
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Comment balloon 2 commentsRichard T. Dolbeare • April 04 2009 04:18PM

Comments

Hi Richard - It is encouraging that March numbers are better than the year to date numbers.  Let's hope that April will be better yet!

Posted by Marlene Bridges, Laguna Homes|Laguna Condos|Laguna Real Estate (Village Real Estate Services, Inc.) over 10 years ago

Marlene- My business is certainly picking up which is most encouraging.  Clients who had been on hold for 2+ years are now active again.  How is it where you are?  We usually trail you by several months.

Posted by Richard T. Dolbeare, R(B), ABR, CRS...Hawaii Multi-Island Specialist (Keller Williams Realty Maui) over 10 years ago

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