Kauai Real Estate, Kauai Multi Million Dollar Home Impact, Oahu-Maui-Big Island Real Estate Update

Kauai Real Estate SOLD and NEW listings Island Wide! Add comments

Kauai Real Estate Update

To find out what Sold, was Just Listed and what went into escrow last week on the island of Kauai click here: Kauai Real Estate Sales October 14 to 20, 2019

Poipu Beach Real Estate Update- To find out what is happening in the fee simple market in Poipu Beach since January 1 of this year click here:  Poipu Beach Current Market Analysis

Kiahuna Plantation Real Estate Update- I SOLD Kiahuna Plantation unit #74.  At a selling price of $665,000 (LH) this is the highest sale so far this year at the Kiahuna Plantation.  This 2-bedroom ocean view unit was only on the market for 5 days before we went into escrow.
For a complete update on the sales activity at the Kiahuna Plantation since January 1 of this year click here: Kiahuna Plantation Current Market Analysis

Kauai Real Estate Year To Date
I connected with some of my Realtor friends while in California and I’m seeing the same trend here on Kauai that they are experiencing; In looking at the residential numbers the sales and prices are down.  As you can see on the graph Lihue is an exception and that’s because of an affordable housing project that they have (only open to residents) which are pushing their residential numbers up.

What is driving our prices and the number of sales down is the same as the mainland: the multi million dollar homes market.
Here is what I found when I did a search on the multi million dollar home market in different price ranges for this same time compared to last year:

Year To Date October 20, 2019 Sales of Homes:
The YTD number of sold homes in the 1$ to 2$ Million Range:
2018             2109
93                   86

The YTD number of sold homes in the 2$ to 3$ Million Range:
2018             2019
25                   15

The YTD number of sold homes in the 3$ Million and Up Range:
2018             2019
34                   14

Clearly the higher end market is making their mark on these figures.  We’re still seeing excellent activity in the million and under and the $1 Million to $2 Million market is not that far off either.  The pressure point seems to be the above $2 million.

Below is a graph of our Year To Date sales as of the end of September 2019.  Call me if you have any questions on how this relates to your particular area of interest.
<img src=”image.gif” alt="kauairealestate“/>

Oahu, Maui and Big Island Real Estate Year To Date Sales
In Oahu year-to-date sales of single-family homes increased by 0.8% to 2,774 homes sold, from 2,753 sold during the first three quarters of 2018. The median price of single-family homes through the first nine months of the year was $785,000, which was 0.5% less than the same period in 2018, which was $789,000.
Year-to-date condo sales declined 6.7% from the same period in 2018 to 4,074 units sold, from 4,367 units sold in 2018, while the median price declined by 1% to $425,000, from $429,500 last year. 

On the island of Maui Single-family home sales for the first nine months of the year were 4.1% below the same period a year ago, but the median price through the end of September rose 6.5% to $745,845, from $700,000 last year.
Condo sales declined 5.7% through the end of September, but the median price of those units rose 4.4% to $518,000, from $496,000.

On the Big Island of Hawaii year-to-date condo sales on Hawaii Island increased by 3.62%, while the median price of a condo for the first nine months of the year rose 3.36% to $362,750, from $351,000 during the same period in 2018.
The year-to-date median price of a single-family home rose 5.56% to $380,000, from $360,000 last year, while the number of single-family homes sold through the end of September increased by just 0.5% to 1,797, from 1,788 during the first nine months of last year.

Comments are closed.

Site by Thinkingman.com
News Feed Comment Feed Log in