We're off to a new year with the release of January sales statistics for both Maui and Kauai. I'm presentining the figures with some reservations due to a small sample size and a general shift in the buyer market. The number of sales are way down from a year ago which causes me to question whether there is enough data to calculate meaningful median prices. In addition, it is my sense that there has been a shift away from mainland buyers who typically buy the higher-priced properties to Hawaii residents buying less expensive properties for their personal residence. I have shared some additional thoughts on this in my recent post on Kauai condo sales which can be found HERE.
As always, I advise keeping in mind that the data is as reported by agents and reflects what has sold, not the change in value of an individual property. Data is deemed reliable but is not guaranteed and should not be relied on for buying or selling decisions. My opinions are my own and there are likely to be different opinions and interpretations of the data.
Here is the data for January 2009 compared to January 2008. Once again, some of the median price data may not be meaningful due to the small number of sales represented.
Median Sales Price (January 2009)
| Type | Kauai | Maui |
| Single Family Homes | $466,785 (down 20%) | $558,000 (down 1%) |
| Condos | $235,000 (down 60%) | $427,500 (down 30%) |
| Land | $200,000 (down 77%) | $70,000 (down 88%) |
Number of Sales (January 2009)
| Type | Kauai | Maui |
| Single Family Homes | 10 (down 55%) | 29 (down 49%) |
| Condos | 7 (down 65%) | 48(down 46%) |
| Land | 3 (down 57%) | 3 (down 57%) |
Aloha!
Search Kauai/Big Island | Search Maui | Email | About Me | Visit Website | Phone/Text (808) 651-4550
Engineering Hawaii Dreams Today--Helping Buyers Find Dream Homes & Sellers Find Buyers
Visit www.KauaiRocks.com for Hawaii real estate information
Comments(8)