Aloha,
Things seem to be on the upswing as we move through our second month of 2010. This month saw a total or 39 sales which is 13 more than the 26 which sold in Feb 09. This represents a 50% increase. Of these sales, 20 were homes, 6 land, 1 commercial, and 12 were condo sales. Although an increase from 09, this number is down when compared with the 57 sales in 08, 83 in 07, 106 in 06 and 102 in Feb. 05. The important thing to note is that for the last two months the numbers have been higher than 09, with 54 Jan 10 sales compared to 20 in Jan 09. This is an excellent indicator of the market, especially when year to date we are up 102% from the 46 properties sold this time last year to 93 which have sold so far this year. Everyone keeps asking when we will turn the corner and maybe that time is now. Of course, you can only "predict" this in hindsight, a good thing to keep in mind if you are a buyer. Year to date 08 had 107 sales, 07 was at 152 while 06 saw a whopping 226 down from 207 sales year to date in 05.
Sales volume saw an increase also, up 76% with $19M in sales in Feb 10 and only $11M in Feb 09. Compared to recent years, it is still low but it appears that we may finally be seeing some recovery. For Feb 08 there were $53M in sales, Feb 07 $64M, 06 saw $66M and Feb 05 was at $73M. Year to date we are up 19% going from $35M this time last year to $42M this year. The top "year to date" volume was 06 with $162M in sales.
Even the median sales price is up across the board, going from $400K for residential in Feb 09 to $446K in Feb 10. Land went from $209K to $237K, and condos increased from $290K to $313K. Year to date pricing is up with residential going from $409K to $436K when comparing 09 to 10. Land was at $204K year to date 09 with an increase to $250K for year to date 2010. Condos are the only area showing a decline in the median sales price year to date, decreasing from $272K to $258K. Here are the sales that show the median for 2009 which is the average of the two midpoint sales of $254K and $290K:
Copyright 3/4/2010 by Hawaii Information Service
218660 Kauai Beach Resort #3328 1/13/2009 $140,000
210870 Islander On The Beach #167 2/24/2009 $162,000
219941 Kawaihau Sports Villa #J201 2/26/2009 $171,600
218530 Islander On The Beach #126 2/27/2009 $200,000
214737 Kalapaki Villas #2603 1/21/2009 $210,000
213578 Sun Village-kauai #A206 2/27/2009 $215,000
209039 Islander On The Beach #246 1/6/2009 $235,000
212327 Plantation Hale #F16 2/20/2009 $238,000
218238 Sun Village-kauai #B308 1/16/2009 $254,000
217913 Banyan Harbor #100 2/20/2009 $290,000
214782 Sandpiper Village I #212 1/26/2009 $375,000
199453 Emmalani Court #322 2/10/2009 $387,000
220490 Villas At Puali #92 2/26/2009 $395,000
217008 Hale Malu At Puhi #12 2/24/2009 $455,000
201267 Nihilani At Princeville Resort #29C 2/26/2009 $565,000
212856 Nihilani At Princeville Resort #14C 1/15/2009 $600,000
213510 Manualoha Ph I & Ii #404 1/9/2009 $800,000
214678 Pali Ke Kua Incr I,ii,iii #213B 2/18/2009 $1,100,000
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
As for year to date 2010, there were 26 condo sales with the median sales price an average of the two midpoint prices of $232,400 and $285,000:
Copyright 3/4/2010 by Hawaii Information Service
225266 Kauai Beach Resort #3211 2/4/2010 $72,000
230708 Kauai Beach Resort #2308 1/29/2010 $76,000
226210 Kauai Beach Resort #2404 1/8/2010 $79,000
228876 Islander On The Beach #216 1/26/2010 $87,000
230363 Islander On The Beach #133 2/8/2010 $115,000
227588 Halelani Village At Puhi Ph I #H105 2/23/2010 $130,000
227667 Halelani Village At Puhi Ph Ic #W103 2/16/2010 $145,000
228222 Sun Village-kauai #A303 1/22/2010 $145,000
225936 Banyan Harbor #80 1/28/2010 $155,000
228760 Plantation Hale #J16 1/12/2010 $169,500
228999 Paradise Court-kauai #B 1/11/2010 $187,000
228932 Prince Kuhio #337 1/29/2010 $222,000
226124 Princeville Paniolo #103 2/25/2010 $232,400
226802 Sunset Kahili #304 2/26/2010 $285,000
178041 Kahala At Poipu Kai I #822 1/7/2010 $290,000
229751 Regency Huleia #68 2/24/2010 $341,000
224968 Waikomo Stream Villas #521 1/4/2010 $345,500
206865 Kaha Lani #121 1/28/2010 $390,000
228453 Poipu Kapili #23 2/24/2010 $480,000
214620 Kaiulani Of Princeville #39 1/4/2010 $1,040,000
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
If you want to see the full statistical report click here to go to my website where they are posted every month.
You can also find the complete Kauai MLS on my website along with answers to many of the common and uncommon questions under Kauai RE 101. If you have a question that's not answered, please ask and maybe you'll find that your answer becomes a permanent part of the "101″ section. Until next month, don't hesitate to call or email for all your real estate needs.
Aloha Elaine
I took this picture of this magnificent Hibiscus while in Hana on Maui over Valentines.
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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