This February is a great month to write a blog about our residential market on Kauai as it was a hot month for residential home sales on the island. Home sales increased by a whopping 56% over last years February sales for a total of 53 homes sold in February, 19 more than 2017.
With the increase in sales also came the increase in median sales price. The median sales price this February on Kauai rose to $725,000. Last year’s February median sales price was $682,500. Our median sales price this year so far has increased by 14.88% over last years median sales price of $642,000.
Here are the current median sales prices by district:
- Waimea: $505,000
- Koloa: $813,000
- Lihue: $569,780
- Kawaihau $701,000
- Hanalei $2,601,250
All of these districts saw increases over last year.
Other interesting February Kauai residential market facts:
- The average days on the market for a home sold on Kauai in February was 94 days.
- Of the 53 homes sold, 18 of those sales were over $1,000,000 and 12 of those were all cash sales.
- Homes over $1,000,000 are selling quickly with an average of 107 days on the market.
- Homes under the median price range of $725,000 are selling even faster at an average of only 58 days on the market.
- The highest sale this February was a property on Weke Road in Hanalei which sold for $10,500,000. It was on the market for 0 days and sold for all cash.
- Of the 53 homes sold on Kauai this February, almost half of those sold for all cash. If you are considering buying or selling your property on Kauai please contact me today!