Buying a Home on Kauai, Year to Date Statistics Comparing First 9 Months 2022 vs 2021
For Kauai homes sales days on market are up and price drops are happening, however, when I look at the sold price compared to the original list price it’s at 97.6% which is a great number. There are two ways to look at this data: if you just compare the sold price to the list price that doesn’t tell us the whole story, especially when price drops are happening. So this is significant that even with price drops we are at this high number when compared the sold price to the original list price. That takes the impact of the price drops right out of it and gives us a more correct view of what is happening. The average days on market for a home on Kauai now is 39.
Homes on Kauai Sold in 2022 vs. 2021
We’re looking at the number of homes that sold at the end of September 2022 and comparing that to this same time in 2021. This part is pretty easy to do because the number of sales are down across the board due to lack of inventory.
Island wide there have been 398 homes sold compared to 581 this same time last year. On the South Shore, 125 homes have sold compared to 149 in 2021. The North Shore has sold 83 homes compared to 167 last year. Lihue is at 35 homes sold versus 45 the years before.
Kauai Home Prices Still Up
Prices are still up across the board, in some areas not as much as we had been seeing. Island wide the Median price is $1,150,000 compared to $1,077,000 last year a 6.78% increase. South Shore is now $1,210,000 compared to $1,149,000 last year a 5.31% increase. North Shore had the biggest gain, they are up 33.33% at $2,400,000 compared to $1,800,000 last year. The median price for a home in Lihue is now $899,990 verses 770,000 last year a 16.88% gain.
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If you’d like to contact me directly to find out how these numbers relate to your particular area of interest you can reach me at 808.346.0056
Lynda Gill RS Lic 63088