Aloha,

Here we are in July already, in fact, it feels like July is almost over and we're heading into August! Before we get too far into July, I wanted to get your market statistics for June out to you. Starting with the Number of Sales: For June, Island wide residential saw a 39% decrease with a drop from 46 to 28 sales for June 07 compared to 08, and the same percentage decline year to date, going from 245 to 148 this time this year. Condos, Island wide were down 12% comparing June 07 to 08, with 24 sold in 07 and only 21 selling in 08. YTD there is a 35% decrease with sales going from 170 in 07 to only 110 in 08.

Residential in the Waimea Zone went from 4 sold in June 07 to only 1 sold in June 08, with a 79% decrease YTD dropping from 24 to 5 sales. Koloa was down 10% comparing June 07 to 08 with 10 sold last year and 9 selling this year. YTD Koloa is showing a 56% decline going from 67 to 29 sales. Lihue Residential for June went from 8 to 3 and 31 to 20 YTD. Kawaihau Zone saw a 33% decline comparing June to June, going from 12 to only 8 sales with a 16% decline YTD with 66 sales this time last year compared to 55 sales this year. The Hanalei Zone dropped 41% going from 12 to 7 sales in June with a 31% decline YTD. There were 57 sales last year compared to 39 this year.

As for Condos, Koloa went from 7 to 4 in June for a 42% decrease and a 40% decrease YTD, reporting 42 sales YTD 07 and 25 sales this year. Lihue went form 10 to 5 sales comparing June 07 to 08 with 59 condos selling YTD 07 compared to 21 this year. Kawaihau saw an up tick with no June condo sales in 07 but reporting 2 this June and a whopping 44% increase YTD up from 9 to 13! Hanalei had similar gains, going from 7 to 10 sales in June but reporting a downturn YTD of 13%, going from 59 sales in 07 and 51 this year.

Sales volume, Island wide showed a residential decline of 37% going from $41M to $25M comparing June 07 and June 08 while YTD went form $246M to $133M which is a 45% decline. Condos had a similar fate, down 16% June to June from $16M to $13M and down 31% YTD, from $114M to $78M.

Residential in Waimea is off by 82% in June going from $2M to $352K and declined 88% YTD showing $17M in 07 but only $2M now. Koloa zone is actually up comparing June to June, going from $6M to $9M for a 51% increase but is down from $58M to $35M YTD for a 39% decline. Lihue is also down for June, going from $6M to $1M for an 81% decrease with YTD showing a 41% decline, going from $21M to $12M. Kawaihau has similar results, going from $8M to $4M comparing June to June and from $45M to $34M YTD. This represents a 25% decrease. Hanalei is off by 45% in June, from $17M to $9M and from $103M to $49M YTD.

In the specific zones, Koloa condos are off 39% comparing June to June, from $4M to $2M while YTD is off 54% down from $30M to $13M. Lihue is off 49% going from $3M to $1M in sales in June, and is down 64% YTD, going from $22M to $7M. Kawaihau sold no condos in June of 07 but posted $762K of sales in June 08. YTD shows a 56% increase from $4M to $7M. Hanalei had an increase going from $7M to $8M comparing June to June for a 2% increase but is down 12% YTD with sales totaling $56M in 07 compared to $49M currently.

As for median prices, Island wide, Residential is up 4% from $665K to $687K with YTD up from $655K to $657K. Condos are down for the month Island wide, going from $572K to $569K but are up for YTD, going from $525K to $579K, which represents a 10% increase.

Residential Waimea is down comparing June to June from $487K to $352K with a 14% decline YTD going from $472K to $405K. (Does anyone remember when a Waimea sale barely approached $100K?) Koloa homes are up 40% for June going from $642K to $900K and from $650K to $925K YTD. Lihue saw a decline in June with the median price dropping from $547K to $410K and YTD going from $550K to $482K. Kawaihau also declined, from $621K to $467K comparing June to June for a 24% decline and from $574K to $540K YTD for a 6% decline. Hanalei is up going from $885K to $900K in June but is down YTD going from $1.2M to $975K for a 24% drop.

Koloa Condos bucked the trend by increasing from June to June going from $607K to $782K (must be all those new developments) but showed a decrease YTD going from $657K to $515K for a 21% decrease. Lihue condos dropped 21% comparing June to June going from $304K to $240K and also dropped YTD with an 8% decline from $335K to $305K. Kawaihau zone had one sale, which was for $381K in June this year with no sales last June. YTD Kawaihau is up 30% going from $320K to $419K. And finally, but not least, we have Hanalei zone with a 9% decline, going from $935K to $850 comparing June to June but showing an overall increase YTD with 07 showing $805K and 08 posting a median price of $861K which represents a 6% increase. And there you have it. If you want to see the June Market Statistics in full, which includes Residential, Vacant Land, Commercial, Condominiums and Business for the entire Island as well as each of the 5 zones, visit my website and click on Market Statistics. You can easily get there from here.

Enjoy the rest of your summer! Take time to enjoy the swaying palms, balmy trades and the warm tropical ocean. Until next month...

Aloha, Elaine

Elaine Schaefer (R, GRI, ABR)
Broker in Charge - Princeville Resort Office
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

......you can have your own piece of paradise
ask me how!