Seller’s Market in Kauai remains hot! Hawaii Life recently released the Q2 2022 Real Estate Market Report. Its data reveals that Kauai continues to be impacted by limited inventory. The report also shows a rise in the price of single-family homes. While there are current concerns about inflation and economic slowdown on the mainland, the report indicates that the seller’s market on Kauai remains strong. For the second quarter of 2022, the median sales price of single-family homes on Kauai was $1.2M, an increase of 10.09% over the median sales price of $1.090M during Q2 2021.
Limited Inventory and Rise in Price of Single-Family Homes
There are currently 103 active residential listings on Kauai, a decrease of -23.7% comparing Q2 2022 to Q2 2021. Inventory continues its downward trend as the number of homes available for sale contracts steadily.
There were 153 sales on Kauai in Q2 2022, a decrease of -31.7% over 224 sales in Q2 2021.
Homes under contract were 113, a decrease of -50.2% over the same period last year, in which 227 homes were under contract in Q2 2021.
Days on the Market and Months of Inventory
The average Days on Market (DOM) metric shows the average number of days properties are on the market prior to selling. The downward trend indicates a move towards more of a Seller’s market. While some of the previous 12 months have been outliers, the overall trendline shows that Days on Market is decreasing. Q2 2022 reported an average number of days on the market as 53 DOM, a decrease of -36% compared to 83 DOM Q2 2021.
The current months of inventory available is 1.8 months, a decrease of -11.7% comparing Q2 2022 to 2 months in Q2 2021.
The real estate market inventory on Kauai continues to be whittled down.
Beautiful New Listing in Kauai
I am excited to present my newest listing, an Ocean & Mountain View Acreage Property in Aliomanu Estates. This conveniently located 4.41-acre estate property with ocean-to-mountain views features a contemporary-style home, an abundant fruit orchard, and multiple accessory buildings located mere minutes away from sandy Aliomanu Beach. Interested to know more? Contact me here.
Luxury Market Report Available Upon Request
Hawaii Life’s 2022 Midyear Luxury Market Report is also available now. Email me to request a copy.
2020 & 2021 Hawaii Business Magazine Top Performer