Kauai and Muai year-to-date sales statistics through October 2009 compared to the same period in 2008 show that this continues to be an unprecedented opportunity for buyers. Selection is huge and prices are down substantially There remains a large amount of inventory to be cleared out before downward price pressures ease. An upturn in number of sales is key to that and there are hints that this may now be happening. Some economists think we may be at or near the bottom of the cycle.
This Month's Update
Year-to-Date Median Sales Price (Jan-October 2009)
| Type |
Kauai |
% Change |
|
Maui |
% Change |
| Single Family Homes |
$470,000 |
-25% |
|
$500,000 |
-14% |
| Condominiums |
$289,000 |
-44% |
|
$469,000 |
-15% |
| Vacant Land |
$284,500 |
-54% |
|
$512,000 |
-27% |
Year-to-Date Number of Sales (Jan-October 2009)
| Type |
Kauai |
% Change |
|
Maui |
% Change |
| Single Family Homes |
201 |
-20% |
|
521 |
-34% |
| Condominiums |
129 |
-16% |
|
675 |
-7% |
| Vacant Land |
60 |
-43% |
|
83 |
-11% |
One of the most striking differences between the Kauai and Maui markets is condo sales (both numbers and prices). It has been my "soft" observation that some new construction on Maui has continued through the downturn while most has stopped on Kauai and this data adds support to this.
[Data extracted from Kauai and Maui multiple list reports. Data is deemed reliable but is not guaranteed and should not be relied on for buying or selling decisions. There are likely to be differing opinions and interpretations of the data.]
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