Aloha,
June 2011 fell a little short of June 2010 sales, with only 65 compared to 73. Of those 65, 27 were residential, 10 land and 28 condos. The number of condos sold is higher than last June which had only 26. The same goes for land - we had one more sale this June than last. It was the residential that showed a 27% decrease going from 37 in Jun 10 to 27 in Jun 11.
Year to date we are slightly ahead, with 380 sales so far compard to 347 last year this time. We're doing good, however, compared to the recent past, which saw only 213 sales as of this time in 09 and 329 for 08. Of course, if you go back any further than 08 the numbers jump up dramatically, with the 06 being the top "year to date" with 974 sales. There were even more than that in 05 but why go there! We already know 05 was the tops in every catagory.
Sales volume is still on the down side, with $35M sold in Jun 10 compared to $27M for Jun 11. Year to date we are still ahead with $204M for this year compared to $182M for Jun 10. The biggest difference in volume was, of course, in the residential which saw $22M in sales for Jun 10 compared to $16M for Jun 11.
On sales volume for past months, we don't fare so well with $35M for Jun 09, $53M in Jun 08 - then it jumps back up to $75M Jun 07 and $81M for Jun 06. That should give you an idea of how pricing has been going - down.
Median sales price remained fairly steady, showing at $480K in Jun 10 for residential compared to $457,700 this June. Land went down 18% from $250K in Jun 10 to $203,250 for Jun 11. Condos saw a smaller 13% decline with a median price of $325K in Jun 10 and $282,500 in Jun 11.
If you'd like to see the full MLS market stats, I post them every month on my website. Please click here to access them.
Lots of properties going into escrow already this month and buyers seem eager to get in the market - indicative that the tide has turned. When buyers see value for their dollar, that's when you'll see them step up to the plate and not one minute before. Sellers, if you are still thinking someone will come up to your overpriced unit, keep in mind that even if they do, unless it's a cash transaction, it's unlikely to appraise.
That's it for this month. Please email if you have any questions. Have a great July and enjoy all the BBQ's and beach time.
Aloha Elaine
Elaine Schaefer (R, CRS, GRI, ABR, SFR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Short Sale and Foreclosure Resource Certification
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/
......Making your real estate dreams
my business.........
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