Kauai Real Estate Update- To see what Sold, went Under Contract and what was Just Listed on the island of Kauai for last week click here; Kauai Real Estate Update
Poipu Beach Real Estate Update- For an update on the Fee Simple Poipu Beach Market click here; Poipu Beach Current Market Analysis
For the Kiahuna Plantation click here; Kiahuna Plantation Current Market Analysis
Kauai Real Estate Year To Date 2024 vs 2023
Kauai’s residential housing market is seeing an increase in inventory, but not in the price range most buyers are targeting. As of July 1, 2024, there are 148 residential homes active on Kauai, with only 23 of those under $1 million. This shows a significant skew towards higher-end listings. The $2 million and under market makes up 53 homes, that means 35% of our inventory falls within this range, leaving many potential buyers priced out.
Focusing on June alone, we notice a slight softening in the residential market. Sales dropped from 34 last year to 23 this year. Days on market increased from 75 to 88. However, the sold-to-original list price ratio held steady, moving from 94.65% in June 2023 to 93.27% in June 2024.
For the Kauai condominium market; sales are slower than last year, but their prices continue to rise across the island. As we begin July, let's look at the first six months of Kauai condominium sales and compare them to the same time last year.
Looking at June alone for condominiums and comparing that to June of last year, we notice a slight uptick in the sold-to-original list price, which means sellers are now getting closer to their initial asking prices. In June 2023, sellers got 94.26% of their original price, and in June 2024, this increased to 96.50%. The number of sales slightly increased from 27 to 28 but, days on market rose from 54 to 62.
Below is a graph of the Kauai real estate activity comparing the first 6 months of this year to this same time last year. These numbers are general in nature and might not correctly represent your particular area of interest. Contact me for more information.
