We are now 3/4 of the way through 2011! So here is a look at the Princeville Condo Sales on the North Shore of Kauai (Hanalei District) through September. The statistics that I have included here go back to 1995. The numbers for all years include January through September only.
There were 56 condos sold so far this year. That number is an increase over 2010 in the same time period last year. Fifteen (15) of them were REOs (bank-owned foreclosures) and twelve (12) were short sales. So, that means that nearly 50% of the condo sales year-to-date were either short sales or REO sales.
At the top end of the Princeville Condo Sales, there were four condominiums that sold above $1 million this year - (3) condominims sold at Ka'iulani of Princeville and one (1) Pu'u Poa condominium.
Ka'iulani of Princeville is situated on 18 acres and is a low-density luxury residential community consisting of 77 attached homes. The community is upscale in design, finishes, and amenities. Buildings are spaced 25 to 35 feet apart so it feels like single-family living. There are three heated pools, spa and two barbecue areas, one-half mile lighted walking paths, four water features, and a resident manager. Ka'iulani #29, #6 and #27 are furnished units that are currently offered for sale at well-below the orignal purchase prices. For more information click here: Ka'iulani #29 and Ka'iulani #6 and Ka'iulani #27,
At the lower end of the Princeville Condo Sales, there were three (3) condominiums that sold priced below $200,000 -two (2) at Puamana and one (1) at Mauna Kai. Those were all REO (bank-owned) condos.
While the number of sales is on the rise, the median sale price has continued to fall. But are we at the bottom?