Kauai Real Estate, Poipu Beach Estate Price Reduction, Kauai YTD Real Estate Compared To 2019

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

Kauai Real Estate Sales 

For a list of everything that has Sold, was Just Listed or went into Escrow on the island of Kauai for last week click here: Kauai Real Estate Sales January 27 to February 1, 2020.

Poipu Beach Real Estate- My Seller at Poipu Aina Estates is moving on to a new chapter in his life and has done a major price reduction on this one of a kind property in Poipu Beach.  This home combines upcountry living with the amenities and attractions of sunny Poipu.  For a private tour, or for more information, give me a call at 808-346-0056.  Or visit this properties website www.PoipuAinaLiving.com.
To get up to speed on the Poipu Beach fee simple market click here: Poipu Beach Current Market Analysis

The Pili Mai Unit That Almost Broke The Million Dollar Mark. Unit 10i is located on the golf course and sold before it ever hit the MLS. Click on this photo for details.

Pili Mai Almost Breaks The Million Dollar Mark
A resale at Pili Mai, Unit #10i, almost broke the million dollar price point at Pili Mai last week.  This resale was the Kalewa floor plan, a 3 bed 2.5 bath located in building 10 which is on the golf course and has horizon ocean views.  It was listed for $999,999 and sold for $999,000, just $1K below a million.  This unit never even hit the market.  To see the details on this unit click here: Pili Mai Resale Unit #10i

<img src=”image.gif” alt="kiahunaplantationrealestate“/>

Kiahuna Plantation unit #440 is located on the ground floor of building 42. This unit has a no stair entry, double sinks in vanity area and a shower remodel. Priced well at $115,000 (LH). Click on photo for more information.

 Kiahuna Plantation Real Estate- I represented both the Buyer & Seller and successfully negotiated a deal that was favorable to both parties, Kiahuna Plantation #440 is now in escrow.  This was the lowest priced unit in the complex, with this one gone the bar is now set at $129,000 (LH).  Click on the picture for more photos and information on this unit.  If you missed out on this one give me a call to discuss our current inventory.
For all the Kiahuna Plantation Real Estate activity since the first of this year click here: Kiahuna Plantation Current Market Analysis

Blocked Safari Helicopter Investigation?
An employee of the Federal Aviation Administration alleges that his manager prevented him from investigating Safari Helicopters, the tour helicopter company that made earlier headlines with the horrific crash on the North Shore on December 26, 2019 killing all 7 people on board.
A FAA inspector contacted the U.S. Senate Committee in December alleging that his requests to investigate Safari Aviation last September and November were denied.  He also states that he was suspended twice for repeated appeals to have his manager’s decision overturned.

According to the Senate committee’s report the FAA employee initiated a review of Safari’s training program due to “deficiencies” he noted during a check ride with the same pilot involved in the December crash.  Apparently this whistle blower is not alone, as several other people have come forward with concerns.  The disturbing question is this: is the focus on public safety or protecting an industry?
The FAA says that it “takes allegations of wrongdoing very seriously,” has been conducting its own investigation of the matter, and “is already taking steps to address substantiated concerns.”

National Housing Stats
We saw the Year End Real Estate statistics for the state of Hawaii and the National Statistics are in to compare 2018 to 2019.
For 2019 total existing-home sales ended at 5.34 million, the same level as in 2018, as sales in the South region (+2.2%) offset declines in the West (-1.8%) and Midwest (-1.6%), as the Northeast remained unchanged.  Decline in the West are attributed to high taxes and already record setting prices.
The median existing-home price2 for all housing types in December was $274,500, up 7.8% from December 2018 ($254,700), as prices rose in every region. November’s price increase marks 94 straight months of year-over-year gains.
Total housing inventory3 at the end of December totaled 1.40 million units, down 14.6% from November and 8.5% from one year ago (1.53 million). Unsold inventory sits at a 3.0-month supply at the current sales pace, down from the 3.7-month figure recorded in both November and December 2018. Unsold inventory totals have dropped for seven consecutive months from year-ago levels, taking a toll on home sales.
Here are the highlights:

  • Days On Market: 41 days in 2019 compared to 46 in 2018.
  • First-time buyers were responsible for 31% of sales in 2019 compared to 33% in 2018
  • Second Home who account for many cash sales, purchased 17% of homes in December 2019, up from both 16% in November and 15% in December 2018. All-cash sales accounted for 20% of transactions in December, unchanged from November and down slightly from 22% in December 2018.
  • Distressed sales5 – foreclosures and short sales – represented 2% of sales in December, unchanged from both November 2019 and December 2018.

The National Association of Realtors chief economist Lawrence Yun said conditions for buying are favorable and will likely continue in 2020. “We saw the year come to a close with the economy churning out 2.3 million jobs, mortgage rates below 4% and housing starts ramp up to 1.6 million on an annual basis,” he said. “If these factors are sustained in 2020, we will see a notable pickup in home sales in 2020.”

Kauai Real Estate Sales Year To Date
The first month is over and we see the slower Real Estate sales for the last quarter of 2019 showing up in the number of sales, which is down, or flat, across the board.  The Median Price is up in most sectors of our market with the North Shore showing some nice increases in the prices.
The month of January has been very strong in real estate activity, which is following a trend on the West Coast.
This information is broad in nature and might not apply to your particular area of interest.  Contact me for a more specific look at your Kauai Real Estate holdings.
<img src=”image.gif” alt="kauairealestate“/>

Comments are closed.

Site by Thinkingman.com
News Feed Comment Feed Log in