Buying a Home on Kauai, Real Estate Statistics April 2023 vs 2022
It’s May, and it’s time for a Kauai home sales update! In this video, we’ll compare the first four months of 2023 to the same time last year, and we’ll also take a look at just the month of April 2023.
Low Inventory, Sales Down
The data is telling the same story — a lack of inventory across the board, and the number of sales are down. For homes island-wide, we sold 211 in the first four months of 2022 compared to only 89 in 2023, a -57.82% drop. The South Shore had the highest difference, with only 19 homes sold at the end of April 2023 compared to 67 in 2022, a -71.64% decrease.
The North Shore had sold 45 homes at the end of April 2022 compared to 16 the same time in 2023 a -64.44% decrease. Lihue had sold 14 homes at the end of the first four months and now they’re at 13 sold which is a -7.14% decrease.
Home Prices on Kauai
But what about prices? Let’s take a closer look at April 2022 and compare it to April 2023. In April 2022, there were 60 homes sold island-wide, and the sold price compared to the original list price was 99.5%. In April 2023, only 22 homes were sold, and the sold to original list price was 93.3%.
While the lack of inventory is still skewing the median price, we’re seeing some upticks in a couple of areas. Island-wide, the median price for a home at the end of the first four months of 2022 was $1,200,000, and now it’s $1,037,000, a -13.58% decrease. The South Shore, however, saw an increase from $1,258,750 in 2022 to $1,525,500 in 2023, a 21.19% increase.
The North Shore is slightly off at $2,200,000 in 2022 compared to $2,022,500 in 2023, a decrease of -8.07%. Lihue is up 4.58% from $927,500 in 2022 to $970,000 in 2023.
Want to Know More?
So, that’s the latest update on Kauai home sales. While the lack of inventory is still an issue, there are some areas that are seeing an increase in prices. Get Kauai real estate updates delivered to your inbox every week. Sign up now at https://conta.cc/3scxsX4. For any questions, feel free to contact me.
Thanks for tuning in, and I hope you have a wonderful day.
Lynda Gill RS Lic 63088