Continue reading your article witha WSJ subscription, Already a member? Your Email address will be kept private, this form is secure and we never spam you. Quality steel frame construction, with exterior materials that were chosen to stand up to the salt in the air. All rights reserved. Home buyers reveal: 'What I wish I had known before buying my first home, Debunked! When single-family homes on Kauai did sell after their brief presence on the real estate market, the average sales price was 65.6% more than in Q3 of 2020, coming in at $1.903M. The year on year numbers are starting to transition, with a basis of a full throttle Covid real estate market as our benchmark. In this page not only will you see properties represented by , but also properties represented by other members of Hawaii Information Service. All rights reserved. This information is believed to be accurate. Oahu Short Term Vacation Rental Condo List, Essential things to discuss when selling your home. This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed. View more property details, sales history and Zestimate data on Zillow. Its a slight downward trend of 2.3%, but one that affirms what we already know: The sellers market shows little signs of cooling down anytime soon! The Ocean Club amenity. Posted on Posted on You can email me at beth@hawaiilife.com or via phone at (808) 443-4588. Hawaii Oceanfront Condo, Locations LLC offers thousands of Hawaii real estate listings from each major island including Oahu, Maui, Kauai, Molokai, Lanai, and the Big Island. If you look at real estate nationwide,prices may be seen to be decreasing. Kauai sales activity is down in January 2023, with home sales down -69% and condo sales down -4% from last year. What is LocationsHawaii.com? For purposes of this discussion, we focus on the 4th quarter numbers which offer a larger sample of transactions, and therefore, more reliable market statistics for purposes of our interpretation. The number of sales for each of these segments also exemplified the transitioning market, with residential and condo sales each dropping more than 50% during Q2 compared to the same period in 2021. Copyright 2016, Hawaii Information Service. Why would the Mowry buffalo ranch not be selling? Condo: Tk Resort #2201 (Fractional Ownership) Asking Price: $445,000 Fee Simple Type: Fractional/Timeshare District: Your Email address will be kept private, this form is secure and we never spam you. In fact, the average price per square foot has experienced a 46.1% growth spurt over the last year, with the year over year increase surging to $896.77 per foot at the end of Kauai market times are up in January 2023, with the home Days on Market up 229% to 28 and the condo Days on Market up 3% to 17 from last year. Kauai Monthly Residential # of Sales and Median Prices, One Year Series. Located behind the Wilcox Hospital and within a few minutes of Walmart, it continues to be a popular apartment complex for senior living. Note: Honolulu Board of REALTORS receives inquiries seeking professional advice; however the Honolulu Board of REALTORS staff is not qualified, nor licensed, by the state of Hawaii to properly address real estate or legal issues. That listing price is exactly in line with what 6C sold for last year, so will be a good reference point for the state of the resort condo market when it sells. Every market segment, whether delineated by product type or region, saw meaningful increases across all basic metrics. Leave your opinion here. February 11, 2022 Required fields are marked *. WebKauai Real Estate Market Report, Q4 2021 2021 Q1-Q3 HAWAII LUXURY MARKET REPORT About Us Client Testimonials Team Bios Kauai Real Estate Blog Contact Us Wow, what you both do to support in the process of real estate transactions is a remarkably elevated bar of sophistication. - Rex Beasley, Engineer & President at There is currently only one Halii Kai condo for sale, Halii Kai 7c listed for $1,195,000. Sun Village is a 55+ community in Lihue, Kauai. While some of the previous 12 months have been outliers,the overall trendline shows that Days on Market is decreasing. You may also be interested in single family homes and condo/townhomes that sold in popular zip codes like 96746, 96756, or neighboring cities, such as Kapaa, Koloa, Poipu, Princeville, Lihue. Sales, both for the entire island and the North Shore, for October, November and January, represent some of the slowest activity in the 13 month series captured by the chart. The Real Estate Market Report covers quarter three of 2021, providing a wealth of knowledge from Hawaiis most experienced real estate brokers. Island wide residential and condo segments saw significant declines in the number of sales, dropping roughly 32% each year-on-year during Q2. https://www.wsj.com/articles/kauai-real-estate-is-so-hot-right-now-buyers-are-snapping-up-homes-sight-unseen-11620313537. January Compared to September of 2021 Kauai lead the pack with a 12.5% increase in visitors which totaled 105,100. of Maui and should not be relied upon without independent verification. Location, location, location. Quarter on quarter to last year, we have witnessed a more than 300% increase in island-wide residential sales volume sales volume hit $457.9M in Q2 2021 compared to $113.6M in Q2 2020. MLS # 11725998 In this page not only will you see properties represented by , but also properties represented by other members of Hawaii Information Service. The same descriptive statistics are even more pronounced for the North Shore residential and condo markets with larger declines in sales volume and number of sales but larger increases in median sales prices. of Maui and should not be relied upon without independent verification. Tranquil Setting Sitting on almost 16 acres of lush grounds outside of the VDA, relax on your lanai and , After just a few years in the real estate industry, the phone starts to ring with calls for recruitment. Kauai Monthly Residential # of Sales and Median Prices, One Year Series. LaurenPingree@HawaiiLife.com Especially if you can afford oceanfront or ocean/golf view. of Maui and should not be relied upon without independent verification. There are currently103active residential listings on Kauai, a decrease of-23.7%comparing Q2 2022 to Q2 2021. This 1 bedroom, 1 bath includes a full kitchen and a stacked washer/dryer. If youd like to explore the numbers a bit deeper, check out the market snapshots below for January 2022 and Q4 2021, or via the following links for an enlarge versionsKauai Snapshot January 2022+Kauai Snapshot Q4 2021. You can email me at neal@hawaiilife.com or via phone at (808) 651-1777. in Hawaii, Kauai, Market Intelligence, Aliomanu Estates, To receive a full copy of the 2Q 2022, please email me. Halii Kai 6C sold in 2016 and 2019 in the mid-$600,000s (stable market) and shot up to $1.2 million in 2022. The resiliency of the condo sales volume (relative to the larger decline in residential sales) may be a function of the fact that as property values have ballooned over the past year, some buyers have shifted from residential buyers to condo buyers. 1995-2016 Honolulu Board of REALTORS. Please be nice. Kauai Top Producing Agents by Sales Volume, Posted on Lastly, residential median prices for the North Shore rose 17% from $1.8M to $2.1M and condo median prices for the North Shore jumped 33% from $865K to $1.15M during Q2 compared to Q2 21. This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed. I worked for the developer of Halii Kai when we were selling pre-construction. He came to me and said, Were going to buy this house, she recalls. DMCA Notice. Your email address will not be published. in Hawaii, Kauai, Market Intelligence, Market Trends, Kauai, Email me to request a copy. Please be nice. This oceanview Poipu condo, 1 bedroom, 1 bath ground floor unit sold for $995,000 with only 9 days on the market. You can email me at neal@hawaiilife.com or via phone at (808) 651-1777. 2020 & 2021 Hawaii Business Magazine Top Performer, (808) 212.8058 of Maui and should not be relied upon without independent verification. Leave your opinion here. The current months of inventory available is1.8 months, a decrease of-11.7%comparing Q2 2022 to 2 months in Q2 2021. 1995-2016 Honolulu Board of REALTORS. The report also shows a rise in the price of single-family homes. I welcome you to contact me to find out about your .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Remember that at Halii Kai, the same floorplan will be priced differently depending on the location and view. To start your real estate search, simply enter your property type whether a home, condo, townhouse, or vacant land and then your specific location. For questions concerning these issues, consult with either the Hawaii Real Estate Commission, your Principal Broker, or an Attorney. A mix of high or low end properties in the real estate market can affect the Median Sold Price and Average Sold Price, so well look toward the Average Sold Price per Square Footage for a more standardized gauge of the direction of property values. Nationally, U.S. median home prices held steady from June to July at $385,000. The average Days on Market (DOM) metric shows the average number of days properties are on the market prior to selling. Copyright, 1995-2015, REALTORS Association of Maui, Inc. All Rights Reserved. 110B Number of sales has also increased dramatically with total residential sales up to 223 compared to 84 in the same period last year; likewise, land sales increased from 14 to 53 and condo sales from 73 to 191 in second quarter comparisons. Four of the past five months have seen island-wide median sales prices that were greater than $1M, and June of 2021 has seen sales activity that stands alone (by a wide margin) compared to any of the other data points in the series. Lihue 55+ living community, Sun Village, in escrow within 12 days on the market. Leave your opinion here. The real estate market inventory on Kauai continues to be whittled down. Keep your eye on this property! Big Mahalo to our clients for helping us close out our largest first half of the year by sales volume ever. We will not rent, share, or sell your information. Similarly, condo sales volume decreased from $46.5M in Q2 2021 to $29.3M in Q2 2022, a 37% decline. Each of our real estate listings provides comprehensive information on essential details including property features, price change, transaction history, and amenities. The below chart depicts monthly sales and median prices for both the entire island and theNorth Shore, and is another example of the slowing activity in the number of sales. Though values may have lost some steam recently in their relentless rise, Q2 offers an impressive display of appreciation compared to the same period last year, with island wide residential median sales prices up 13% to $1.235M and island wide condo median prices up 26% to $770,500. Information herein deemed reliable but not guaranteed. in Hawaii, Kauai, Market Intelligence, Sales, Kauai, It has been provided by sources other than the Realtors Assoc. Koloa, HI 96756. Log In. DMCA Notice. This is just another depiction of a market displaying a lot of activity and strong values. The developer priced building 6 at a little over $600 a square foot in 2007. Median sales prices however, with a couple of exceptions, still continued to exhibit modest increases. That finally rose to almost $800/sq ft when I listed and sold 6F in 2021. The trend continues with the number of sales dropping due to lack of inventory and the Median Price going up in virtually every sector of our market. Market Intelligence, The project was built in phases starting at the oceanfront and working back to the gate. The 3,016 sq. Register you can either select a new agent or one will be assigned for you. Kauai Quarterly Residential Median Prices, 1992 to 2020. Best, The below chart depicts monthly sales and median prices for both the entire island and theNorth Shore. 66 Kauai residential homes, 19 vacant Kauai land properties, and 62 REALTOR(S)-76803 Known as the Grand Canyon of the Pacific, Waimea Canyon is located on the west side of Kauai and features immense, panoramic views of over 14 miles of natural beauty. Youll also be able
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However, with home sales down -69 % and condo segments saw significant declines in price.
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