Second quarter statistics are in for 2015 Kauai real estate sales. The charts below show our real estate cycles beginning in 2005, the buildup to what turned out to be a peak in 2006, the 2011 market bottom, and on to the present. All three categories, homes, condos, and land, showed a dip for the 3rd quarter 2014, something I described at the time of posting as "interesting" but probably not the start of a new trend. Time has affirmed that assessment with prices for homes & condos trending up and vacant land relatively flat.
Kauai condo sales prices have been on an upswing since 2011 as shown by the trendline which smooths out fluctuations from quarter to quarter. If looking at individual quarters, then the current median is 6.3% lower than a year earlier.
Residential sales prices have been trending up for 1 to 2 years and took a huge leap in the previous 2 quarters. Last quarter I had said "It's hard to see this huge increase as sustainable so I wouldn't be surprised by a dip in the next quarter but only time will tell". Well time has passed and indeed the median price did dip substantially in the 2nd quarter. Still, the current median is 5.8% higher than a year earlier.
Kauai Vacant land sales prices were relatively flat for several years with the trend line now showing a gradual decrease. Current median is off 8% from a year earlier.
Serving clients is my specialty whether it be on the island of Kauai or the island of Maui. Data analysis is one of many hobbies and I'm pleased to share that to the benefit of my clients. Contact me for assistance in buying or selling on Kauai or on Maui.
Aloha!
Richard T. Dolbeare, Realtor & Broker-in-Charge
Hawaii Lic # RB-20941
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