The 2nd quarter of 2013 is already behind us and overall it's been a hot period for Kauai real estate sales. Second quarter sales statistics are shown below for the entire island as well as our 5 regions. Residential sales have passed the half million point as measured by median sales price. This represents a whopping 23.1% increase in prices over the same period last year. Vacant land and condo prices have seen healthy gains as well. Caution, this represents the median of what is selling and is not necessarily a reflection of price gains for individual properties.
Short sales continue to have a large presence in our market but REOs (foreclosed sales) not so much. I do get buyer inquiry about foreclosure sales which remain few on Kauai. Those looking for bargains have to look harder. Those with a HFT (high frustration tolerance) may want to look at short sales. I'm closing 2 of those this week, a process that took 5 months for one and 6 months for the other.
Those interested in buying or selling are welcome to contact me for additional detail and assistance.