Aloha,
May 2011 outperformed May 2010 by 13, going from 54 in 10 to 67 sales in May 2011. Of these sales, 28 were residential, 5 land, 1 commercial, and 33 condos. Although nowhere near the number of sales we saw at the height of the market, it was more than 09 which had a measly 37 and also more than May 08 with 48. May 07 posted 92 sales while there were 167 in 06.
Year to date we are at 315 which is a 15% increase over the 274 sales which occurred in year to date 10. In 09 at this point in time there were only 170 sales compared to 264 in 08. I keep reading all these stats wondering how we ever survived 09! 07 had 447 sales while 06 had 841 transactions.
Sales volume is also up - by 12% from $28M to $31M for the month. Year to date is up 20% going from $147M to $176M. The highest year in the recent past is, of course, 06 which had $557M at this time. For the month of May 06 there was $101M in sales. Those were the good old days.
Residential sales saw the biggest increase in volume for May 2011, going from $15M in May 10 to $22M in May 2011. The biggest decline was land which posted $6.1M in 10 but only $941K for this past May. Condos were also up, with a 63% increase going from $5.1M to $8.4M.
Median sales price for homes held steady with only an 8.5% increase for the month of May, going from $410K in 10 to $445K in May 11. Land dropped quite a bit, going from a median of $525K to $239K.
Here are the land sales for May 2010 where you can see $525K is the midpoint:
Copyright 6/5/2011 by Hawaii Information Service
Location Sold Date Sold Price
4345 Naulu Pl #A 5/19/2010 $180,000
4469 Lani Ikena Pl 5/20/2010 $190,000
Koolau Rd #2 5/4/2010 $300,000
Kalihiwai Ridge Lot #: 5/21/2010 $525,000
Pineapple Ridge Condominium #A 5/18/2010 $550,000
Lot #: 5/17/2010 $690,000
Kuhio Hwy 5/21/2010 $3,750,000
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Here are the sales of land in May 11 showing $239K as the median:
Copyright 6/5/2011 by Hawaii Information Service
Location Sold Date Sold Price
Ahupuaa Village #K 5/3/2011 $41,000
3577 Lilikoi Pl 5/24/2011 $164,000
6976 Pomaika'i St 5/2/2011 $239,000
5263 Kekuanao'a 5/3/2011 $247,000
Kahuna Rd 5/19/2011 $250,000
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
All in all, things are looking up as we head into this summer season. If you want to see the full market report click here to go to my website where I post it each month. Please do call or email with questions or when you need the facts.
Aloha, Elaine
Mountains seen on the way to the stable.
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.........
Comments(2)