"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.