Aloha,
Aug 2010 and Aug 2011 had the same number of sales which was 64. Interestingly, in both years there were 31 residential sales, 8 land in 10 compared to 6 land in Aug 11, 1 commercial in 10 compared to 1 business sale in 11 and 24 condos sold in Aug 10 with 26 selling in Aug 11. The majority of the residential sales were in the Kawaihau zone which encompasses Kapaa with 13 sales. Hanalei stayed the same with 8 in both years.
Compared to past years, there were 44 sales in Aug 09, 42 in Aug 08, 65 in Aug 07 and 90 in Aug 06. Looks to me like were on the comeback road, albeit a long, slow one.
Year to date we have 504 sales which slightly edges out the 469 sales at this time last year. Year to date 09 had 306, 08 was at 431, 07 at 680 and good old 06 had a total of 1160 sales by the end of Aug! The more I look at the 09 and 08 numbers each month the more I wonder how we got through those years.
Sales volume is down 28% from $36M to $26M when comparing Aug 10 to Aug 11. The recent high sales volume month was Aug 06 with $70M in sales followed by $50M for Aug 07, $35M in Aug 98 and just $21M in Aug 09.
Island wide, residential sales volume stayed steady with $17,646,208 selling in Aug 10 compared to $17,382,594 in Aug 11. That’s only a 1.49% decrease. Condos were down 15% from $7,252,700 in Aug 10 to $6,180,500 in Aug 11.
Year to date is up a mere .5% from $252M in year to date 10 to $253M year to date Aug 11.Year to date 09 stands at just $189M, 08 had $364M, 07 jumped up to $586M and 06 topped it all with $769M. Sigh! The good old days…..
Median sales price is down across the board, mainly fueled by the foreclosures and short sales seen throughout the Island. For residential – in Aug 11 the median price is $445K, Aug 10 is $540K, 09 is $471K, 08 – $530K and should I even mention Aug 07 and 06 which stood at $624K and $780K respectively.
Year to date the median sales price tells a similar story with residential at $680K for year to date Aug 06, $657K for year to date 07, $642K year to date 08, $470K in 09, $487K in Aug 10 and $450K for year to date Aug 11. Looking back over the years past certainly puts this market in perspective!
Everyone asks if I think the market will still continue to trend down. I think we’ll still see some soft pricing in the next year but we’ll also see those well priced properties going into escrow quickly. Right now there are 93 single family homes, 64 condos and 29 land listings in escrow Island wide. I’ll check back again next month and see how we’re doing.
If you want to see the full MLS market report please click here where I post it to my website every month. If you have specific questions about an area or a property, don’t hesitate to drop me an email. That’s why I’m here.
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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