Charts of historical prices of Kauai real estate suggests that the decline in prices is behind us and that prices are starting a slow recovery. One could debate whether that is the case for Kauai condos which appears to be heading to a double dip. However, I think that reflects the buying frenzy of low-priced distressed properties rather than a general market trend. Some of those distressed condos are selling for 10 cents on the dollar of original sales price. Overall, I'm pleased that the data suggests our market is recovering.
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The 1st quarter 2011 residential median sales price was $455,000, up from the low point seen in early 2009.
What appears to be a double dip in condo prices may only be a reflection of hot sales in the sub-$50,000 market in lodging units which are selling rapidly. Median sales price in the 1st quarter of 2011 was $270,000
The 1st quarter 2011 vacant land median sales price was $405,000, up substantially from the 2009 lows.
Aloha!
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