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Kauai Absorption Rate Still Gnarly

I had hoped to see improvement in our absorption rate when I updated my chart.  Unfortunately that was not to be.  Condo sales continue to be especially troublesome and Kauai's South Shore and our East Side has now exceeded a 10 year supply.  I was inspired by an article in Business week to create the color bands for the different "health" levels.  Back then, the blue, green, yellow, and orange bands made up most of the chart.  Now they those colors are barely noticeable down at the bottom of the chart with everything being in the red zone.  Not pretty for sellers ("gnarly" as Paul Brewbaker would say) but a "whoopie" time for buyers.

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Aloha!

 Search Kauai/Big Island | Search Maui | Email | About Me | Visit Website | Phone/Text (808) 651-4550Richard Dolbeare (RA)

 Engineering Hawaii Dreams Today--Helping Buyers Find Dream Homes & Sellers Find Buyers

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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 • February 23 2009 05:45PM

Comments

Richard, have prices adjusted to meet this inventory situation?  How much of a drop do you expect will turn the tide?  Just curious...

Posted by Jeff R. Geoghan, REALTOR, Marketing Manager (Coldwell Banker Residential Brokerage) over 9 years ago

Hi Jeff.  Yes, prices have adjusted sharply downward, at least for by sellers who understand the market and wish to sell anyway.  Of course there are those who decline to price to be competitive as well.  The phones don't ring for such properties whether a SFH or a condo.

Our real issue here is the sudden withdrawl of mainland buyers who are the ones who buy in our resort areas.  Our market is primarily local buyers now and while this includes condos, it does not include those in resort areas.  I don't expect the tide to turn until mainland buyers return.

Aloha

Posted by Richard T. Dolbeare, R(B), ABR, CRS...Hawaii Multi-Island Specialist (KW Island Living) over 9 years ago

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