Below you will find a sample of some Kauai relevant market statistics from Q2 ’17. If you’d like to explore the numbers a bit deeper, check out the Q2 2017 Kauai Market Snapshot.
Similar to the first quarter of the year, April through June more or less matched the sales volume from the same period in 2016. The market saw island wide residential sales volume of $137.3M versus $138.9M in 2016. Though number of sales dropped from 145 to 137 for the quarter, median residential prices were up roughly 16% from $600,000 to $695,000. The north shore specifically continues to do the bulk of the island’s sales volume heavy lifting – with $62.2M in sales or 45% of the pie.
The most noteworthy action emerging from the second quarter data is the significant performance of the condo sector, with condo sales volume up in all districts of the island. On the North Shore, Q2 saw condo volume grow from $12.8M in 2016 to $19.7M this year, a 54% increase. In the Poipu district, condo volume grew from $13.3M to $18.9M year on year for Q2. Condos are seemingly bridging the price range gap in on the North and South Shores for those who want a piece of Kauai but are finding the residential entry point out of reach.
Though island wide median residential prices saw the aforementioned rise, North Shore prices were relatively flat compared with the same period year on year – dropping from 2.72% from $1,195,000 to $1,162,504. The other key highlight emerging from the second quarter was that the State’s most expensive residential property came on the market – a 15 acre blufftop property above Secret Beach.
The long-term graphic below displays quarterly median sales prices over the past 11 years and continues to show a reduction of variation in the data. Though the North Shore clearly exudes a leveling off the effect of prices; island wide prices appear to now be on a modest increasing trend.
We are once again proud to lead the Kauai market in sales. Thank you for your continued trust and support.