There have been huge improvements in Kauai's absorption rate in 2010. At mid-year, 3 of our 5 zones are moving out of the red zone from "not pretty" to troublesome, a welcome improvement. Still pretty ugly are the South and North Shores which are big resort areas. Homes on the South Shore are not bad but condos need help. The North Shore still has issues with both homes and condos.
Mid-Year Update
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Aloha!
Hi Julie. Yes, as you know most are resort condos and sales of those lag way behind the rest.
So you have categories like "not pretty," "ugly," and "troublesome"? How funny.
Our market here seems to be in year two of a recovery. Only the very high end homes are lagging, but they usually are 12-24 months behind the general market anyway.
Hi Jim. I wish I could take credit for the terms but they came from Business Week. High end lags here too.
Richard, we have years worth of inventory on waterfront in some areas and for condos. Other areas are under 12 months, but nothing under 6 months that I have seen.
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