It’s November already! This update is all about Kauai condo sales—we’re taking a look at the first 10 months of the year and stacking them up against last year’s numbers. We’re setting the scene in the gorgeous Wainani subdivision, where I’ve just listed a fantastic new property.
Click here to view the listing
Click here to learn more about the Wainani subdivision
The North Shore really boosted the island-wide sales volume, but it’s the South Shore that’s pushing up the median price. Okay, time to check out the sales numbers.
Island wide the number of condominiums sold year-to-date are down -6.07% going from 247 last year to this year’s 232.
The South Shore is down -23.75% but in October I saw this tide turning a bit, we had a total of 13 condominiums go under contract here on the South Shore which is significant given that there have been 61 sales year to date down from 80 last year.
The North Shore is up 40% going from 50 to 70 sales this year.
Lihue was just about even going from 66 to 64 this year, a -3.03% decrease.
What actually gets buyers moving? It’s not a market where unsold condos just sit on Zillow—that just tells them they can take their time. But things change fast when that same inventory starts to disappear.
Realtors constantly “yelling and selling” usually just becomes background noise. But a buyer’s focus snaps into place the second that cute condo they’ve been eyeing disappears from Zillow—and a few other places they liked vanish right along with it.
That’s exactly what went down in October, and I’m really curious to see if this sales spike keeps up. If you’re as interested in this trend as I am, please like this video and subscribe for more data-driven updates!
Let’s now get to the median prices. Island wide the median price for a condominium is up 10.74% at $852,000 compared to last year’s $769,400.
The South Shores leasehold condominium sales have been very quiet, we’re seeing mostly fee simple numbers here which are up 15.56% at $1,025,000 compared to last year’s $887,000.
The North Shore had a big uptick in sales but their prices are down -4.33% going from $1,097,500 to this year’s $1,050,000.
Lihue had a slight dip in their median price going from $550,500 last year to $520,000 this year, a -5.54% drop.
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Have a great rest of your day! Aloha.
Lynda Gill RS Lic. 63088
Hawai’I Life Real Estate Brokers 808.346.0056
LyndaGill@HawaiiLife.com
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