Kauai

Kauai Condominium Sales April 2022 Year To Date

Aloha from Kauai it is the beginning of May and this video is all about condominiums. We have the first four months of real estate numbers to compare the end of April 2022 to the same time last year. So let’s get started!

Kauai Condo Sales

Island wide there was a -14.14% decrease in the number of sales, we have sold 164 condos year to date compared to 191 in 2021. On the South Shore 60 condos sold in 2022 compared to 68 the year before which is a -11.76% decrease. North Shore had a -39.22% decrease in the number of condo sold, 31 have sold year to date compared to 51 the year before. Lihue saw a huge gain of 42.86% increase in sales,  50 condos have sold year to date compared to 35 the year before.

The days on market for condominiums is tightening up. In the month of April 2021 the average days on market was 79 and in 2022 it’s 42.

Kauai Condos Median Price

The median price is pretty much up across the board, the island had a 7.44% increase, the median price for a condo is now $650,000 compared to $605,000 the year before. The South Shore had a slight decrease in their median price by -1.40% and this is due to the Kiahuna Plantation leasehold sales. South Shore is at 705,000 compared to 715,000 in April of 2021. North Shore is up 38.30% with a median price of 975,000 compared to 705,000 a year before. Lihue, which has the largest number of residential condominiums is up 25.66% at $477,500 for a median price compared to $380,000 in April of 2021.

Condominiums are now following the same trend as residential homes in their sold to list price as more people are getting priced out of the housing market and are buying condominiums instead. The sold price compared to the original list price was 101.5% in April of 2022 compared to 93.2% in April of 2021. Multiple offers and condos selling above the asking price is happening more frequently.

These numbers are general in nature, and for condominiums, I’ve seen each condo complex have its own submarket for real estate activity. If you are looking for a condominium understanding how these numbers relate to your area of interest is important. I’d be happy to help you with this, you are welcome to give me a call.

Mahalo!
Lynda Gill RS Lic. #63088
Hawai’I Life Real Estate Brokers 808.346.0056
Blog: https://lyndagill.com/blog

 

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