Wow! Princeville condo sales statistics show that the real estate market improved in the first half of 2012! Here are the sales statistics for the Hanalei District on Kauai for the first half of 2012. Hanalei District includes the North Shore of Kauai from Kilauea to Haena. Nearly all of the North Shore condos are located in Princeville. The only condos on the North Shore outside of Princeville are those located at Hanalei Colony Resort in Haena.
The Median Sales Price for the first half of 2012 for Princeville condo sales increased 27% over the first half of the year in 2011. And the number of sales increased from 33 in the first half of 2011 to 53 in the first half of 2012 - up 62%. Six (6) of the condos sold were Bank-owned foreclosures (REOs). The least expensive Princeville condo sale was a Princeville Paniolo REO that sold for $138,000. I bet we don't see a price like that again.
There were eleven (11) Princeville condos that sold as short sales.
The most expensive Princeville Condo Sale was Puu Poa 404. The Buyer paid $1,356,000. This was not a short sale or REO. The Seller purchased the renovated condo in February 2010 for $900,000. It seems that there was a nice profit for that savvy Seller. Currently there are three (3) condos at Puu Poa that are offered for sale priced from $1,100,000 to $1,200,000.
If you have been dreaming of a Princeville condo, don't wait any longer. The market has changed.