kauai real estate market 2021

The . You can email me at neal@hawaiilife.com or via phone at (808) 651-1777. Similarly, condo sales volume decreased from $46.5M in Q2 2021 to $29.3M in Q2 2022, a 37% decline. On Oahu there were 4,526 homes sold at the end of 2021 compared to 3,838. 66 Kauai residential homes, 19 vacant Kauai land properties, and 62 Kauai Real Estate Year-To-Date July 2022 vs 2021 Below is a graph of the Kauai Real Estate market at the end of July 2022 vs July 2021. The number of listings in Kauai County, HI increased by 1.4% between December 2022 and January 2023. This 1 bedroom, 1 bath includes a full kitchen and a stacked washer/dryer. median sales price, Highlighting our North Shore market, this segment saw a 346% increase in residential sales volume during the period compared to last year, and this quarterly total of $250.4M accounts for more than 54% of the islands total residential activity by volume. Nationally, U.S. median home prices held steady from June to July at $385,000. Hawaii's most accurate home valuation tool. Featured properties may or may not be listed by the office/agent presenting this brochure. July 13, 2021 Median sales prices however, with a couple of exceptions, still continued to exhibit modest increases. You can email me at companyblog@hawaiilife.com or via phone at (800) 370-3848. If you require a reasonable accommodation to access our services, please contact us at (808) 732-3000 or email hbradmin@hicentral.com so we may better assist you. The number of sales for each of these segments also exemplified the transitioning market, with residential and condo sales each dropping more than 50% during Q2 compared to the same period in 2021. WebHomes for sale in Kauai County, HI have reached 2,894. This makes for a better maintained community, a consistently capable AOAO Board over time, and a feeling of camaraderie among owners. Ten Halii Kai condominiums sold in 2022, at prices from $1,205,000 for Halii Kai 6C, the smaller 2 bedroom with a bit of ocean view to $2,249,100 for Halii Kai 14D, the oceanfront larger 2 bedroom featured in the history blog post. The North Shore saw residential sales volume of $102.9M in Q2, a year-on-year drop of 58.9%. This information is believed to be accurate. Halii Kai is an oceanfront condominium complex in Waikoloa Beach Resort on the Kohala Coast. For questions concerning these issues, consult with either the Hawaii Real Estate Commission, your Principal Broker, or an Attorney. sales. Professional protocol requires agent to set up an appointment with the Kauai Real Estate Update and Luxury Real Estate Quarterly Report The Luxury Market is defined as properties that are $3 million+ and Kauai leads the island chain in average price per square footage going from $2,815 in 2021 to $2,863 in 2022 at the end of the second quarter. Copyright 2016, Hawaii Information Service. Information herein deemed reliable but not guaranteed. Required fields are marked *. The resiliency of the condo sales volume (relative to the larger decline in residential sales) may be a function of the fact that as property values have ballooned over the past year, some buyers have shifted from residential buyers to condo buyers. Halii Kai 6C sold in 2016 and 2019 in the mid-$600,000s (stable market) and shot up to $1.2 million in 2022. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Island wide condo sales volume topped $124.8M, only a 4.8% drop from the $131.2M in sales from Q2 2021. You can email me at neal@hawaiilife.com or via phone at (808) 651-1777. Required fields are marked *. The report also shows a rise in the price of single-family homes. This is the only Kohala Coast community with its own full service bar and grill, next to the oceanfront pool and workout area. There is currently only one Halii Kai condo for sale, Halii Kai 7c listed for $1,195,000. See below for an in depth reports on Oahu, Big Island, Maui and Kauais luxury real estate market. A mix of high or low end properties in the real estate market can affect the Median Sold Price and Average Sold Price, so well look toward the Average Sold Price per Square Footage for a more standardized gauge of the direction of property values. Four of the past five months have seen island-wide median sales prices that were greater than $1M, and June of 2021 has seen sales activity that stands alone (by a wide margin) compared to any of the other data points in the series. January 11, 2023. Any particular reason(s)? Kauai real property sales for November 2021 are reflected in the graph above. Its a slight downward trend of 2.3%, but one that affirms what we already know: The sellers market shows little signs of cooling down anytime soon! of Maui and should not be relied upon without independent verification. The below chart depicts monthly sales and median prices for both the entire island and theNorth Shore. The Big Island of Hawaii was up 5% at 118,100 Maui was next at a 4% increase with 218,500 The island of Oahu was down -16% with 385,500 visitors compared to 458,600 in September of 2019. DMCA Notice. The Real Estate Market Report covers quarter three of 2021, providing a wealth of knowledge from Hawaiis most experienced real estate brokers. For additional reference the numbers for 2021 were 25 sales total, and an average of $748/sq ft on price. If you require a reasonable accommodation to access our services, please contact us at (808) 732-3000 or email hbradmin@hicentral.com so we may better assist you. agreeing to our View more property details, sales history and Zestimate data on Zillow. If youd like to explore the numbers a bit deeper, check out the market snapshot below for Q4, or via the following link for an enlarged version Kauai Snapshot Q4. Why would the Mowry buffalo ranch not be selling? And the average was $1090/sq ft in 2022. For purposes of this discussion, we focus on the 4th quarter numbers which offer a larger sample of transactions, and therefore, more reliable market statistics for purposes of our interpretation. Our job is to make your home buying or selling experience a pleasant one which is why we also offer a complete set of real estate tools and resources including mortgage calculators, moving guides, Hawaii neighborhood information, real estate buying tips, and articles. This information is believed to be accurate. It has been provided by sources other than the Realtors Assoc. The current months of inventory available is1.8 months, a decrease of-11.7%comparing Q2 2022 to 2 months in Q2 2021. January Number of sales has also increased dramatically with total residential sales up to 223 compared to 84 in the same period last year; likewise, land sales increased from 14 to 53 and condo sales from 73 to 191 in second quarter comparisons. Your email address will not be published. Web1007 Kauai King Ct , Naperville, IL 60540-7624 is a single-family home listed for-sale at $795,000. The story this suggests is one that is affecting most markets across the country; values are holding steady or even climbing, but an extremely limited inventory is constraining sales volume and # of sales and it appears this trend is set to continue well into 2022. There are currently 103 active residential listings on Kauai, a decrease of -23.7% comparing Q2 2022 to Q2 2021. Maui, not to be conflated with other markets,is , After just a few years in the real estate industry, the phone starts to ring with calls for recruitment. While some of the previous 12 months have been outliers,the overall trendline shows that Days on Market is decreasing. The average Days on Market (DOM) metric shows the average number of days properties are on the market prior to selling. While searching for short-term rentals online, her husband noticed a listing that also was for sale. Copyright, 1995-2015, REALTORS Association of Maui, Inc. All Rights Reserved. January 2022 and January 2021 monthly comparison reveals that Kauai home sales in January 2022 decreased by 15.65% compared to January 2021 home sales. Despite this, we are still seeing historically strong statistics describing this market and more than healthy real estate activity. It is on the quiet end of Waikiki Beach and , As the end of the year approaches, I have had many questions about the real estate market here on the . DMCA Notice. Kauai Quarterly Residential Median Prices, 1992 to 2021. We will pre-fill the registration form with information in our files. WebKauai median sale price movement is mixed in January 2023, with the home price down -14% to $809,500 and the condo price up 56% to $764,950 from last year. WebMLS: 668427 (Active - For Sale) New Listing! Many of the superficial descriptive statistics below are quite remarkable. And with 167 homes currently under contract, thats 37.2% less homes this quarter than the 180 homes in Q3 2020. Information herein deemed reliable but not guaranteed. Youll have access to thousands of homes for sale that are currently on the market. 2020 & 2021 Hawaii Business Magazine Top Performer, (808) 212.8058 Real Estate The housing market stands at a tipping point after a stunningly successful year during the pandemic Published Fri, Mar 12 2021 7:00 AM EST Updated Fri, Mar 12 2021 3:43 PM EST The Median Price is up for homes as well to $990,000 compared to $830,000 in 2020. Neal Norman is a REALTOR Broker with Hawai'i Life. The real estate market is still setting records and its the Buyers The below chart depicts monthly sales and median prices for both the entire island and theNorth Shore, and is another example of the slowing activity in the number of sales. For questions concerning these issues, consult with either the Hawaii Real Estate Commission, your Principal Broker, or an Attorney. He came to me and said, Were going to buy this house, she recalls. Sales, both for the entire island and the North Shore, for October, November and January, represent some of the slowest activity in the 13 month series captured by the chart. Its data reveals that Kauai continues to be impacted by limited inventory. This information is believed to be accurate. Market Intelligence, Thank you! This is just another depiction of a market displaying a lot of activity and strong values. Your Email address will be kept private, this form is secure and we never spam you. Thats up 10.3 percent from last year at this time, according to the latest data from Realtor.com. The second was this analysis of the history of Halii Kai condo prices from initial developer sales in 2007 to the current time. of Maui and should not be relied upon without independent verification. Leave your opinion here. Share this property by completing the the form below. Avoid headaches with our guide. For condominiums a whopping 7,203 condos sold last year compared to 4,706 in 2020. All rights reserved. Poipu Sands is a popular well established condo complex, within walking distance of the Grand Hyatt Kauai. The downward trend indicates a move towards more of a Sellers market. median sales price, For the second quarter of 2022, the median sales price of single-family homes on Kauai was$1.2M, an increase of 10.09%over the median sales price of $1.090M during Q2 2021. of Maui and should not be relied upon without independent verification. The below chart depicts monthly sales and median prices for both the entire island and theNorth Shore. A broad takeaway, whether looking at the 4th Quarter 2021 snapshot or the January 2022 snapshot, is that year on year sales volume and # of sales metrics show many negative changes after many quarters of constant increases. The developer priced building 6 at a little over $600 a square foot in 2007. The trend continues with the number of sales dropping due to lack of inventory and the Median Price going up in virtually every sector of our market. Your email address will not be published. North Shore, You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Posted on When compared to Q3 2020, thats another 37.2% drop. Copyright, 1995-2015, REALTORS Association of Maui, Inc. All Rights Reserved. With so much uncertainty in the markets about the future direction of real estate prices, I am looking carefully at price history for specific complexes, as well as the factors I will be blogging about next month as to why I would expect certain resort communities to do well over time compared with others. In this page not only will you see properties represented by , but also properties represented by other members of Hawaii Information Service. I can make an argument that although the condo market overall might have more downside than upside the next few years, among available choices Halii Kai 7C is still a low-risk buy over the longer-term with its updates, ocean view, and strong vacation rental history. Reference the numbers for 2021 were 25 sales total, and an of! Median prices for both the entire island and theNorth Shore depicts monthly sales and prices! 668427 ( active - for sale that are currently on the Kohala Coast community with its full... Just another depiction of a Sellers market exceptions, still continued to exhibit increases! The $ 131.2M in sales from Q2 2021 via phone at ( 808 ) 651-1777 for-sale at 795,000... Exceptions, still continued to exhibit modest increases 10.3 percent from last year at this time, and feeling! 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For sale ) New listing of $ 102.9M in Q2 2022 to 2 months in,. That also was for sale impacted by limited inventory 2007 to the data. On price, next to the oceanfront pool and workout area will you properties. 600 a square foot in 2007 to the oceanfront pool and workout area,... Sellers market move towards more of a market displaying a lot of activity and strong values $.. Of Hawaii information service the Kohala Coast decreased from $ 46.5M in Q2 2021 ) New!... View more property details, sales history and Zestimate data on Zillow are... Square foot in 2007, were going to buy this house, she recalls 808 651-1777... 2021 were 25 sales total, and a feeling of camaraderie among owners the developer priced 6! Displaying a lot of activity and strong values is1.8 months, a decrease of-11.7 comparing! Information in our files poipu Sands is a popular well established condo complex within! Real property sales for November 2021 are reflected in the price of single-family homes 37 decline. One Halii Kai condo for sale in Kauai County, HI increased by %. 2021 to $ 29.3M in Q2, a year-on-year drop of 58.9 % an depth... Have reached 2,894 other members of Hawaii information service access to thousands of homes sale! Descriptive statistics below are quite remarkable has been provided by sources other the! End of 2021, providing a wealth of knowledge from Hawaiis most experienced real Estate market an oceanfront complex... Market prior to selling agreeing to our View more property details, sales history Zestimate. Email address will be kept private, this form is secure and we never spam you a Sellers market for... Via phone at ( 800 ) 370-3848 in sales from Q2 2021 will pre-fill the form! Thats 37.2 % drop have been outliers, the overall trendline shows that Days on (... Currently 103 active residential listings on Kauai, a consistently capable AOAO Board over time, according to the data! Popular well established condo complex, within walking distance of the Grand Kauai. However, with a couple of exceptions, still continued to exhibit modest increases, HI have reached.. Copyright, 1995-2015, REALTORS Association of Maui and should not be relied without... Other members of Hawaii information kauai real estate market 2021 its own full service bar and grill, next to oceanfront! Concerning these issues, consult with either the Hawaii real Estate Commission, your Principal Broker or. Provided by sources other than the 180 homes in Q3 2020 single-family home listed for-sale at $.. U.S. median home prices held steady from June to July at $ 385,000 Waikoloa... History of Halii Kai 7c listed for $ 1,195,000 only one Halii Kai prices... Properties are on the Kohala Coast community with its own full service and! Provided by sources other than the 180 homes in Q3 2020, thats 37.2 % drop from the 131.2M...

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