The Kauai Real Estate market is showing a steady improvement and moving forward to climbing its way out of the slump with a 45% % increase in total number of Home sales in March 2011 Vs 2010. Many buyers are finding great deals within the foreclosure and distressed property market, 19 of the 75 total sales in March where Bank Owned REO properties.
Also another vast improvement in the Kauai Real Estate market is the lack of inventory in some of the different condo projects, these areas months ago were saturated with dated inventory and properties that were not selling. Now with a less of an inventory the demand is growing a bit.
Some Newly listed properties and recently reduced priced properties are even seeing multiple offers being submitted at once, this tells us that there is a pool of buyers waiting and jumping on that right property to fit their desires.
March 2011 Vs. 2010 the number of Island wide home sales increased by 45.83%, the median sales price decreased by 2.91% Kauai home Sales March 2011 vs. 2010 #Sales & $Median Neighborhood 2010 2011 2010 2011 Island of Kauai 24 35 515,000 500,000 Waimea 2 1 535,000 368,000 Koloa 8 11 475,000 422,000 Lihue 1 3 495,000 300,000 Kawaihau 7 7 482,500 342,000 Hanalei 6 13 585,000 666,666 March 2011 The number of Condo sales volume decreased 17.24% and the median sales price decreased 23.19% Kauai Condo Sales March 2010 vs. 2011 #Sales & $Median Neighborhood 2010 2011 20010 2011 Island of Kauai 29 24 345,000 265,000 Waimea 0 0 265,000 0 Koloa 5 5 461,000 500,000 Lihue 9 9 155,800 65,000 Kawaihau 4 4 191,000 201,500 Hanalei 11 6 528,250 415,000 Information on March 2011 sales on the island of Kauai was provided by Russell Tucker
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