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Kauai & Maui Sales Statistics Point Downward

February sales statistics are now available for both Maui and Kauai.  I have fewer reservations in presenting the figures than I did at the end of January when sample sizes were so small that I questioned how meaningful they were.  It would appear that the Maui market is holding up better than Kauai in terms of what price range is selling but the decline in the number of sales are similar.

It is my sense that there has been a shift away from mainland buyers who typically buy the higher-priced properties to Hawaii residents buying less expensive properties for their personal residence.  This may be a more valid observation on Kauai than on Maui.

Here is the YTD data through February 2009 compared to the same period in 2008.  I previously posted Kauai statistics HERE before Maui statistics were availalbe.  That post contains February-only data in addition to year-to-date values herein.

 YTD Median Sales Price (Jan-Feb 2009)

Type Kauai Maui
Single Family Homes $408,569 (down 38%) $570,000 (down 3%)
Condos $290,000 (down 49%) $570,297 (down 4%)
Land $209,000 (down 76%) $225,000 (down 81%)

 YTD Number of Sales (Jan-Feb 2009) 

Type Kauai Maui
Single Family Homes 21 (down 56%) 60 (down 55%)
Condos 17 (down 53%) 98(down 47%)
Land 7 (down 68%) 9 (down 71%)

As always, I advise keeping in mind that the data is as reported by agents and reflects what has sold, not the change in value of an individual property.  Data is deemed reliable but is not guaranteed and should not be relied on for buying or selling decisions.  My opinions are my own and there are likely to be different opinions and interpretations of the data.

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

Visit www.KauaiRocks.com for Hawaii real estate information

 

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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 6 commentsRichard T. Dolbeare • March 08 2009 12:24PM

Comments

Hi Richard - Sorry to see that sales are moving downward.  It was very interesting to see the comparison of median prices by property type, by island.  Thanks for all your hard work in putting this market report together.  You certainly know your market.

Mahalo,

Marlene

Posted by Marlene Bridges, Laguna Homes|Laguna Condos|Laguna Real Estate (Village Real Estate Services, Inc.) almost 10 years ago

Sounds like the rest of the country.  Some places are alot worse though.  The info you put together for people there is great.  I wish you the best.

Posted by Nate Rowe, Realtor, Homes in Richmond VA (Oakstone Properties, Homes in Richmond VA ) almost 10 years ago

Hi Richard: I agree that our market has changed to more owner occupants then mainland buyers although I have seen both with my sales this year. Thanks for your positive congrats email to me. I had some negative feedback lately. Another agent complained that my blog violated the code of ethics because I listed properties that were not my listings on it. I even had permission of the other Realtors to put it on my blog. Can you believe it? I straighten that out but it shows the jealousies of others in this market. Lots of aloha. Julie

Posted by Julie A. Black, CLHMS, CRS, GRI, Realtor, Broker (KAUAI DREAMS REALTY Kauai Real Property Specialist) almost 10 years ago

Hi Marlene, Nate, & Julie.  Thanks for your comments.  While Hawaii is a specialized market, buyers come from all over the U.S., Canada and many other places as well.

Julie- sorry to hear about your experience but glad you got it resolved.  At least you know your posts are getting attention.

Aloha!

Posted by Richard T. Dolbeare, R(B), ABR, CRS...Hawaii Multi-Island Specialist (Keller Williams Realty Maui) almost 10 years ago

Richard.....if it gets too bad come to Birmingham.  We have a lot of activity.  I hope you see improvement soon.

Posted by Ann Allen Hoover, CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL (RE/MAX Advantage South) almost 10 years ago

Richard ~ I am glad to see you are presenting an honest market analysis for your area. The market will change one day and I look forward to reading about upward increases from your area when the market shifts!!

Posted by Terrie Leighton, Reno Real Estate Agent ~ Selling Homes in Reno (Ferrari-Lund Real Estate ) over 9 years ago

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