What are you doing in October? Specifically October 12th through the 18th?
Realtor.com says that this is the time frame to buy real estate for these reasons: Less competition, homes have longer days on market, recent price drops, recent lowering of interest rates, and October is historically the month for the most price cuts and that the listing prices at this time of year are below seasonal peaks.
My two cents is the buyer pool could get a little bigger with people buying before the end of the year for tax purposes.
With that in mind, it’s the beginning of October, and we’re looking at Kauai home sales for the first 9 months of this year and comparing it to this same time last year. We’ll start with the number of homes sold.
Island-wide there were 297 homes sold compared to 284 last year, an increase of 4.358%. The South Shore had a nice 22.47% increase going from 89 last year to 109 this year. Lihue was down -28.99% from 69 to 49 sales this year. The North Shore had the biggest gain, they are up 54.55% from 22 last year to 34 this year.
The month of September was an active one for homes on Kauai. We had 40 homes go Under Contract and 36 homes that sold. We also had 40 Price Changes and of those only 5 were price increases. If you like this data driven content for Kauai real estate make sure that you like this video and subscribe to whatever channel you are watching this on. Now, let’s take a look at the Median Price.
Island-wide the Median Price for a home on Kauai is down -14.29% at $1,200,000. Last year at this time it was at $1,400,000. The South Shore, despite being up in the number of sales, is down -18.08% at $1,280,000 from $1,562,500, but I wouldn’t count the South Shore out, we are seeing some huge sales numbers in the Kukui’ula subdivision in the $5 million and over range. More to come on that. The North Shore is up 6.75% at a Median Price of $2,615,300 compared to $2,450,000 last year. Lihue sales were up and their Median Price is up at 18.12% going from $954,500 in 2024 to this year’s $1,127,500.
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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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