Buying a Condo on Kauai, Hawaii – September 2023 Year to Date Sales vs September 2022
The number of condominium sales on Kauai are down, but the median price is up in every district on Kauai. We are looking at the first 9 months of condominium sales on the island and comparing that to this same time last year. Just like with homes, there are not a lot of new listings coming on the market.
There are two types of condominiums included in the data, those that are primarily vacation rentals and others that do not allow vacation renting and are strictly for full time living. The areas that have primarily vacation rental condominiums, which are the South and North Shore, saw the highest appreciation.
Condos Sold on Kauai
Island wide there were 236 condos sold in the first 9 months compared to 351 which is a -32.76% decrease. The South Shore went from 135 sales in 2022 to 82 this year a -39.26% decrease. The North Shore had a -26.47% decrease from 68 sales in 2022 to 50 year to date 2023. Lihue had 91 sales last year compared to 68 this year a -25.27% decrease.
In looking at just the month of September and comparing that to September of 2022 the days on market are up slightly at 48 compared to 36 the year before. The sold price to the original list price is the best way to gauge how prices are holding up, in September of 2022 Sellers were getting 100% of their original listing price and this year it’s at 97.4%. So condo prices are holding up.
Media Price on Kauai
Let’s take a look at those prices. Island wide, the median price went from $695,000 at the end of September 2022 to $709,500 this year a 2.09% increase. The South Shore was at $715,000 in 2022 compared to $793,500 at 10.98% increase and that is impressive given the South Shore has a large number of leasehold sales. The North Shore was at $995,000 at the end of September 2022 compared to $1,196,750 this year a 20.28% Increase. Lihue was at $505,000 in 2022 and now at $535,000 which is a 5.94% increase.
Want to Know More?
If you would like the Kauai Home Sales data, click on this link for that post: Kauai Home Sales September 2023 Year To Date
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