Those who follow my posts know that I like to analyze data for our Kauai and Maui markets. I was thinking about properties that sell versus those that don't and decided to take a look at days on market for both.
Here on Kauai, average days-on-market for sold properties is 158 days (last 6 months of condos, homes, land). For active listings that number is 281 days or nearly twice as long. In other words, properties that have sold have done so in just about half the time of the average active listing. This is pretty compelling evidence that properties that are properly priced sell relatively quickly while the rest languish in this buyer's market.
Is this Kauai data consistent with what others are seeing? Does anyone have a different interpretation as to what it means?
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