May 12, 2011

2011 April Kauai Real Estate Report

"Saw Tooth " is the key word for the current Kauai Real Estate Market.  For the next  year and more we are going to find the Kauai market shift monthly with skewed numbers for  the median priced Home sales and condo sales. For example there were only two homes sales on the west side of Kauai the Waimea district for the month of April bringing the median home price from $430,000 for 2010, and then jumping all the way up to more than doubling the average median home price of the west side to $1,075,000, thus totally misrepresenting what the true median price for the Waimea district average home sales are. It is fun to look at these numbers but do not totally gauge your search on these statistics. Get in touch with your Real Estate agent and find out what is happening in your favorite location.
One thing is for sure we are seeing more foreclosures hitting the Kauai market now more than every with a current total of 23 home, 25 condos, and 4 parcels of land currently available to purchase on the Island of Kauai. for 2010 the average volume of Foreclosures currently available on the market ranged from approximately 25 to 30 properties at one time. The Foreclosures are a very important part of the market to pay attention to, since the banks are very motivated to sell they will price these properties just below the average market price to get them sold asap, and if they don't sell they will drop their sales price on a monthly basis until it is sold.  Also Interests rates have recently dropped making this an incredible time to pick up a steal of a deal.
           
           
           
April 2011 Vs. 2010 the number of Island wide home sales decreased by 28.95%, the median sales price decreased by 12.89%
           
 
#Sales & $Median
      
Neighborhood
2010
2011
2010                 2011
  
Island of Kauai
38
27
522,500
455,165
  
3
2
430,000
1,075,000
  
9
5
1,125,000
437,500
  
4
2
450,000
321,500
  
15
13
405,000
362,500
  
7
5
977,500
814,500
  
           
April 2011  The number of Condo sales volume increased 11.76% and the median sales price decreased 30.99%
           
 
#Sales & $Median
      
Neighborhood
2010
2011
20010               2011
  
Island of Kauai
17
19
426,000
294,000
  
0
0
0
305,000
  
2
5
672,500
450,000
  
7
10
162,000
52,000
  
2
1
612,000
458,500
  
6
3
422,500
364,300
 
Posted in Market Updates
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