There is a major shift underway in the Kauai residential market and that is toward the sale of lower-priced homes in the $250K to $500K bracket (yes, in Hawaii that is on the lower end of our pricing scale). As the charts below show, this trend was slight until 2008 when it jumped to over 1/3 of all sales. And in the first 2 months of this year that segment has nearly doubled to 2/3 of all sales.
I have seen this in my own listings as well where moderate and high-priced homes languish while lower-priced homes get all the action. I have a beautiful, brand new home priced at $745K and the phone rarely rings while one priced just under $500K gets multiple showings each week. My assessment is that mainland buyers with deep pockets are sitting on the sidelines while the resident population is buying. I'm pleased to be part of helping our residents realize their dreams of home ownership.
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[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.]