Despite the real estate headwinds Kauai condominiums are facing, the number of sales island wide is pretty much even with last year, and the median price is up. The numbers are bumpy, to say the least, but overall, at the end of August, it’s better than I expected.
Today I’m filming from a gorgeous new listing I just brought to market here on the South Shore. It’s a great backdrop for diving into the latest condominium numbers.
Full details on this listing can be found here.
It’s the beginning of September and we’re looking at the Kauai condominium sales for the first 8 months compared to last year, so let’s start with the number of sales.
- Island wide we are only down -2.54% in the number of sales, going from 197 last year to 192 this year.
- The South Shore went from 60 to 55 condo sales, a -8.33% decrease.
- However, it was the polar opposite on the North Shore. They had a 55.26% increase, going from 38 to 59 sales this year.
- Lihue had sold 54 condominiums in 2024 and this year 51, a -5.546% decrease.
Sellers are clearly trying to find their way. In the month of August, there were 45 condominium price corrections and of those, only 3 sellers increased their price. An interest rate cut is anticipated this month — how much of an impact will that have? The condominium market tends to move a bit slower than the housing market, so I wouldn’t expect a seismic shift immediately. But if you’re a buyer who needs financing, you now have inventory to work with and you’re not constantly getting outbid by cash buyers.
The time to get prequalified is now. The Fed is meeting in the middle of the month and you’ll be ready to move if the opportunity lines up.
Contact me if you’d like a lender recommendation, and subscribe to whatever channel you’re watching this on to see future real estate videos.
Let’s get to median prices.
- Island wide, condominiums are up 12.04%, going from $781,000 last year to $875,000.
- The South Shore had a strong 18.38% increase and is now at $1,050,000 compared to last year’s $887,000.
- The North Shore is down -18.92% at $1,050,000, compared to $1,294,999 last year.
- Lihue had a -4.63% decrease, going from $550,500 to this year’s $525,000.
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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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