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Buying a Condominium on Kauai – Hawaii January 2023 vs 2022 Sale Statistics

As buyers are priced out of the housing market the number and prices for Kauai condominium sales are up, for the most part. But just like with homes these numbers in the early part of the year lack the data to get a true read. A good example is right here in Poipu Beach, the median price for a condominium is up over 125% and that is just not correct. Another example is Lihue where there were only 3 condominium sales last month and that skewed their median price downwards by -37.89% and that is also not correct.

Let’s look at the number of sales for condominiums on the island of Kauai in January of 2022 and compare that to January 2023. 26 sold last year compared to 24 this year which is a -7.69% decrease. The south shore sold 6 condos last year compared to 10 this year a 66.67% increase. For the north shore they sold 3 last January and 5 this year also a 66.67% increase. Lihue sold 11 condos compared to 3 this year which is a -72.73% decrease and that decrease is only due to lack of inventory.

Are Sellers coming off their prices? Not by much. Early last year the interest driven real estate market was on fire. In January of 2022 the sold price compared to the original listing price was 99.9%, January 2023 it was 98%. Let’s look at where the median prices are at. The prices are with the exception of Lihue. The Median price at the end of Janaury 2022 for a condominium was $490,000 compared to $781,975 and that’s a 59.59% increase. The south shore median price was $522,000 and is now $1,175,000 which is a 125.10% increase. The North Shore is up 47.19% at $1,310,000 compared to $890,000 last year. Lihue is down -37.89% to $295,000 compared to $475,000 last year.

These prices will absolutely not reflect the correct information for your particular area of interest and they will continue to be lacking in the correct data for a couple of months. You are welcome to contact me to do a deeper dive into your favorite condominium complex.

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Aloha!
Lynda Gill RS Lic 63088
Hawaii Life
808.346.0056

Posted on in Condos, Hawaii, Kauai, Market Intelligence, Market Trends, Selling Advice, , , , , ,

Lynda Gill
About the Author

Lynda Gill

Lynda Gill is a Realtor Salesperson with Hawai'i Life. I have close to two decades of experience as a top-producing real estate agent on Kauai, where I’ve lived since 2004. I specialize in residential, relocation, and resort property sales in Poipu Beach, Lawai, Omao and Kalaheo, on the island’s South Side. Over the course of my career, I’m proud to have earned accolades and designations, including being recognized as a top performer by Hawaii Business Magazine. But what really drives me is helping my clients with one of the most significant events in their lives. There is nothing quite as satisfying as helping clients achieve their financial goals or seeing their eyes light up when the right property comes along. You can email me at lyndagill@hawaiilife.com or via phone at (808) 346-0056.

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