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Kauai Sales Way Down

Kauai Sales Statistics For February 2009

Kauai home sales statistics have been released for the month of February 2009 and a summary for residential and condominium properties is presented below.  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 correct.  In my experience, monthly values fluctuate widely and I've always preferred to use year-to-date data to average out the fluctuations.  Since we only have data through February, even year-to-date data are based on a small number of sales.

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.

 

Number of Sales

Type February % Change   Year-To-Date % Change
Residential 10 -62%   20 -58%
Condominium 10 -38%   17 -53%

  

Median Sales Price

Type February % Change   Year-To-Date % Change
Residential $339,500 -47%   $404,285 -39%
Condominium $338,500 -40%   $290,000 -49%

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 7 commentsRichard T. Dolbeare • March 01 2009 03:10PM

Comments

That's what I've been sensing, Richard.  Thanks for laying out some hard numbers for us.

Posted by Randy Hooker, Gilbert, Chandler, Mesa, Queen Creek (Dreamcatcher Realty / Greater Phoenix Area) over 9 years ago

Hi Richard - We've been hit very hard in Florida, foreclosure numbers are among the highest in the country.  Talk of limited interest deductions isn't going to help either.  Oh well, the year is young....best to you :-)

Posted by Gail MacMillan over 9 years ago

Thanks for visiting.  Gail, I've heard that Florida and Nevada are 2 of the hardest hit areas.  Patience is required more than ever unless you're a buyer in which case whoopie!

Posted by Richard T. Dolbeare, R(B), ABR, CRS...Hawaii Multi-Island Specialist (Keller Williams Realty Maui) over 9 years ago

Hi Richard, I've been wondering if you went on that appointment you were telling me about a week or two ago?

Posted by Ann Allen Hoover, CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL (RE/MAX Advantage South) over 9 years ago

Gosh, when sales are down in Paradise you know it's tough.  'Guess there are fewer elective moves because folks can't sell back in the other States.

Posted by Margaret Woda, Maryland Real Estate & Military Relocation (Long & Foster Real Estate, Inc.) over 9 years ago

Ann- Yes, I went and described it in an email to you.

Margaret-  It's true that I have a backlog of mainland clients who can't buy over here because they can't sell their mainland home.

Posted by Richard T. Dolbeare, R(B), ABR, CRS...Hawaii Multi-Island Specialist (Keller Williams Realty Maui) over 9 years ago

Ouch! The stats looks pretty rough for Kauai. I gues there is no hiding from this ... even in paradise.

Posted by Bob Foster (Century 21 Lanthorn R. E. Ltd. Belleville, Ontario) over 9 years ago

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