Princeville Real Estate Market Update For 2012 – Action in Princeville!
Princeville Update: If you love Princeville, you will love this “news!” Especially if you are a seller, or even a “Market Watcher” looking for a turn in the real estate market on Kauai.
Sales Statistics For Princeville, Kauai
In Princeville alone, in the past 30 days there have been 31 properties either going into escrow (new sale-pending status) or closing escrow (closed transaction status). During this same period, only 12 properties have come on the market as new listings for a net reduction in Princeville’s real estate inventory of 19 properties in one month.
During this same time interval last year (2011), there were 10 sales and NO new escrows, but there were 14 new listings, for a net increase in Princeville’s real estate inventory of 4 properties.
This seems like small numbers and a small sample size, but when one considers that this activity occurred in a very small community with a small inventory AND during some of the worst weather we have experienced in many years, this data feels like a true market shift to those of us “on the ground” here in Princeville.
It probably is very obvious, but it does not take a vast number of sales to change the inventory when the inventory is relatively small. Stay tuned for more on this market to see if this is a solid, continuing trend, or just a happy, short-lived event!
For more details of this “phenomenon,” feel free to call or email me. I am also available to talk about how we have “dried out” and are again enjoying the luscious Spring weather, or for “talking story” about anything on your mind.