Aloha,
Ok, so it wasn't a blazing hot summer selling season. We've experienced those in the past and this month was not it. Nevertheless, we did see some buyers pick up some nicely priced properties throughout the Island this past month, in fact, 43 properties changed hand in Aug 09 compared to only 42 in Aug 08. We are definitely down for the year to date with 305 having sold so far compared to 431 last year this time. Just to give you an idea of years past, in 07 year to date there were 680 sales, 06=1160 transactions, 05=1180 and year to date 2004 there were 1168 sales. Plenty of room for improvement which I'm sure will occur over the next few years.
Of the 43 properties that sold, 22 were residential, 6 land, and 15 were condos. Waimea zone had 3 residential sales, Koloa zone saw 2 residential sales, 1 land sale, and 3 condo sales, Lihue had 3 homes, 1 land and 3 condos, Kawaihau had 8 houses sell, 2 land and 2 condos and Hanalei had 6 homes sell, 2 land sales and 7 condos.
Of course, sales volume was also down with August 09 posting $21M in sales compared to $35M in Aug 08. These numbers pale in comparison to years past with $50M in sales for Aug 07, $70M in Aug 06, $124M in Aug 05 and only $95M in Aug 04. Year to date sales for Aug 09 are $189M compared to $365M this time last year, $586M for year to date Aug 07, $769M for year to date 06, $805M in 05 and $652M in 04.
Yes, we have seen more active times but keep in mind, those days will eventually return, leaving many a buyer out in the cold when it comes to their ability to buy. It's a slow market but it's also the very best time to get your foot in the door. Just think if you were a seller, you'd probably lay out the red carpet to get a buyer to your door if you really want to sell. "Really want to sell" is the operative word here because there are still too many sellers who seem to think the market doesn't apply to them. Why they don't just take their properties off the market instead of continuing to live in the dream world that someone will come along and give them above market value is beyond me. But I'll save that for another time. To continue....
As you might expect, median sales price is also down. Residential median for Aug 09 was $478K, for 08 it was $530K, 07=$624K, 06=$780K, 05=$644K and 04 was $507K. Keep in mind we are talking median and not average pricing here. Here is the list of homes which sold this past August, which resulted in the median price of $478K:
Copyright 9/2/2009 by Hawaii Information Service
219935 4914 Aliali Rd #5 8/31/2009 $213,741
221776 4836 Puuwai Rd #A 8/4/2009 $290,000
225839 4871 Iiwi Road #B 8/26/2009 $313,000
223522 3834 Koula Rd 8/13/2009 $330,000
224729 2305 Liliuokalani St 8/7/2009 $362,500
224618 6420 Kawaihau Rd #1 8/7/2009 $364,000
223177 1614 Kuahale St 8/12/2009 $365,000
223411 3295 Kilikina Pl 8/7/2009 $370,000
194517 4486 Komohana Pl 8/17/2009 $371,000
219579 2420 Liliuokalani St 8/17/2009 $450,000
224464 9490 Keolewa St 8/14/2009 $471,000
224573 4155-A Kawili St #1 8/28/2009 $485,000
221590 4413 Kai Ikena Dr 8/10/2009 $515,000
195358 337 Eggerking Rd 8/3/2009 $526,000
220055 8664 Elepaio Rd 8/31/2009 $528,000
224630 182 Lihau St 8/13/2009 $539,000
216585 Kolo Rd 8/4/2009 $580,000
226592 6255 Hauiki Rd #1 8/7/2009 $680,000
210609 6969 Holopono Pl 8/18/2009 $1,050,000
214070 4460 Aku Rd 8/26/2009 $1,075,000
211867 6242 Kahiliholo 8/14/2009 $1,600,000
201513 2380-C ‘iwalani Ln 8/12/2009 $2,100,000
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Median sales price for condos this August was $300K, Aug 08 was $299K, 07=$587K, 06=$452, 05=$467K and 04=$349K. Here is the list of condos which resulted in the $300K median sales price:
Copyright 9/2/2009 by Hawaii Information Service
225346 Islander On The Beach #321 8/7/2009 $129,900
225705 Plantation Hale #A9 8/7/2009 $145,000
210709 Kiahuna Plantation #439 8/28/2009 $160,000
193285 Kiahuna Plantation #404 8/14/2009 $170,000
219991 Banyan Harbor #65 8/7/2009 $217,500
226674 Banyan Harbor #108 8/12/2009 $275,000
220199 Kamahana #4 8/12/2009 $276,000
221360 Hale Moi #216 8/26/2009 $300,000
223488 Sandpiper Village I #130 8/26/2009 $300,000
218270 Kiahuna Ph Ii #111 8/24/2009 $330,000
211884 Regency Huleia #75 8/26/2009 $340,000
221018 Sealodge Ii #J1 8/6/2009 $585,000
209062 Nihilani At Princeville Resort #17C 8/18/2009 $640,000
210693 Nihilani At Princeville Resort #10A 8/14/2009 $645,000
221737 Pali Ke Kua Ii #228 8/12/2009 $725,000
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
I'm happy to report that I contributed to the count this August on both the sale of a condo, Hale Moi 216 for $300K as the list agent and the sale of a house, 4871 Iiwi for $313K as the buyer's agent. For a complete review of this month's market statistics click here to go to my website, www.kauairealestatenow. You'll find the monthly market statistics tab along the left side of the website. Until next month, happy house buying and selling.
Aloha Elaine
A wild orchid on the Moalepe trail
Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club
RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise
ask me how!
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