Aloha,
Hau'oli Makahiki Hou as they say here in the Islands. 2009 never materialized as we real estate agents hoped or thought it would, but it certainly did provide many great buying opportunities, a trend I expect will extend well throughout 2010. If interest rates stay low, it will be another great year for buyers.
2009 ended with a total of 500 transactions, down 88 from the 588 transactions of 2008. For Dec 09, statistics were up, with 56 transactions vs. 40 for Dec 08. Of the 56 seen this past month, 36 were residential, 3 land, 2 commercial, and 9 were condo sales. Compared to years past, this is a fraction of the typical activity. In 07 while there were only 56 sales in Dec, for the year there were 908 transactions. Dec 06 saw 124 sales and 1554 for the year. Dec 05, which is usually considered the "high year" had 124 sales and 1796 for the year while Dec 04 had 100 sales and 1639 for the year. Those were the good old days. Blink once and the property that just came on the market was already in escrow.
Sales volume was also up for the month with $52M changing hands in Dec 09 compared to only $22M in Dec 08. $23M of this was the results of just two sales. See below:
Copyright 1/5/2010 by Hawaii Information Service
229942 Kauapea Rd 12/30/2009 $13,500,000
227638 5418 Weke Rd 12/17/2009 $10,100,000
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Ahhhh....we love those big sales. By contrast, these were the three top sales for Dec 2008:
Copyright 1/5/2010 by Hawaii Information Service
219018 Hanalei Lot #: 12/12/2008 $2,100,000
206659 2672 Puuholo Rd #B 12/10/2008 $1,150,000
205193 3885 Kamehameha Rd 12/1/2008 $920,000
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
What a difference a few good sales can make!
For the year, 2009 sales volume was at $339M while 2008 saw $466M in sales volume. 2007 annual volume was $792M, Dec 2007 was at $52M, 2006 annual was at $1.087B and Dec 2006 was at $107M. Our high year for annual figures was once again 2005 which posted sales volume of $1.202B but Dec 05 was down from Dec 06 with only $78M for the month. 2004 was right up there with an annual figure of $930M and a monthly value of $68M.
Median sales price for Dec 2009 residential went up to $530K from $490K in Dec 2008. As I always remind you, this is simply the midpoint of a range of sales prices and not the average. For the year, 2009 residential was at $470,500 down from $615K in 2008 annual. Dec 07 residential median price was $625K; Dec 06 was $595K, Dec 05 = $605K and Dec 04 = $572,500 for the median sales price.
If you want to see the full three page report, please go to my website www.kauairealestatenow.com and click on Monthly Statistics.
Until next month...
Aloha Elaine
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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