We’ve had a drop in interest rates, and we’re seeing more condominium buyer activity here on Kauai. After almost 22 years in real estate, I can tell when the market starts to shift—and I believe we’re at the very beginning of that.
When things turn downward, it happens fast, like hitting a brick wall fast. But when the activity gears shift up, it’s more gradual. It starts with more showings, more calls and emails, and more properties going under contract which is what’s happening now.
We’re looking at the first 9 months of Kauai condominium sales and comparing it to last year at the same time.
We’ll start with the number of sales but before we do that subscribe to whatever channel you are watching this on so you can keep up with these monthly videos. But only do that if you like data driven information, these videos don’t have any fluff because….I don’t like fluff.
Island Wide the number of sales are down only -5% going from 220 sales in 2024 to 209 this year. This number is amazing to me, with all the negativity that has hit the Kauai condominium market, which for the most part is largely vacation rental condos, I’d think this number would be lower. The South Shore is down -14.49% at 59 condos sold compared to 69 last year but look at the North Shore, a 45.45% increase going from 44 sales in 2024 to 64 this year. Lihue has the biggest residential condominium inventory and they are down -8.33% going from 60 sales in 2024 to 55 this year.
For Kauai condominiums, buyers are in a strong position right now: we have inventory, improved rates, and a large number of sellers who are paying attention to the numbers as evidenced by the “price improvements.” The data for the first nine months of this year makes it clear: this isn’t a market with crashing prices. It’s a market with slightly lower buyer activity and steady median prices. Let’s look at those prices now.
Island Wide the Median Price is up 13.90% at $875,000 compared to $768,250 last year. The South Shore had a nice 16.48% Increase and are now at $1,025,000 compared to $880,000 last year. The North Shore, which had a big uptick in their number of sales, was down -9.46% at $1,043,500 compared to $1,152,500 last year. Lihue went from $542,000 in 2024 to $525,000 this year, a -3.14% decrease.
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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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