Year-end sales statistics from the Kauai & Maui multiple list systems have been released completing the picture for all of 2008. 2008 was a year for buyrs who got some really good deals compared to years past. Sellers are clearly hoping for an improved 2009. I'll continue to monitor and report as 2009 statistics are released by the separate Kauai & Maui multiple list systems.
Data is presented in the tables below. Median sales prices on the two islands were similar in 2008 except for vacant land which jumped substantially on Maui while slumping on Kauai. The number of sales on Maui are substantially higher (except for vacant land) and exceeds what one would expect solely on the population ratio of 2.2 to 1. Prices on the two islands continue to hold up fairly well (and in some cases are up) although the number of sales have taken a big hit.
Keep in mind that the data is as reported by agents and reflects what has sold, not the change in value of an individual property. Data is deemed reliable but is not guaranteed and should not be relied on for buying or selling decisions.
Median Sales Price (Full Year 2008)
|Single Family Homes||$615,000 (down 5%)||$577,867 (down 8%)|
|Condos||$545,000 (down 4%)||$549,500 (no change)|
|Land||$480,000 (down 21%)||$700,000 (up 24%)|
Number of Sales (Full Year 2008)
|Single Family Homes||283 (down 31%)||907 (down 21%)|
|Condos||169 (down 43%)||788(down 34%)|
|Land||121 (down 37%)||97 (down 57%)|
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