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The median price of a single-family home on Kauai in 2015 was $613,500. That is a 15% increase over the median price in 2014 according to Hawaii Information Services.
The median price of a single-family home for the month of December was $580,000, a 33.7% decline compared to the median of $875,000 in December 2014. However month-to-month comparisons in this smaller market are deceptive. One sale can make a great difference in either direction. So the more reliable marker is the year-over-year comparison.
The number of sales here in December rose sharply with 48 homes sold on the island, a 37% increase compared to the 35 homes that were sold in December 2014. Number of homes sold is a more reliable indicator month to month than the median price month to month. In the final month of 2015 sales were trending strongly upward.
This uptrend in single family home sales is expected to continue into 2016 and beyond. The market is not considered over-priced so it is a good time for both buyers and sellers here.
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