As is the case around the rest of Hawaii, Kauai real estate is trending upwards. Many people now realize that this is the perfect time to buy a home based on factors such as availability and lower than ever interest rates. Kauai is home to some beautiful single-family homes, townhouses and condos. All things point upward for Kauai real estate, Hawaii. and now is the time to get in on it.
Here are some Kauai property trend stats taken from June of 2012. Keep in mind that over the last few months the market on Kauai has continued to be on fire, and the numbers below point to the fact that it should keep trending positively for the next year.
Kauai June 2012 Housing Market Statistics
Residential Sales
Year to date island wide residential sales have continued to increase! At this time last year there had been 174 residential sales and so far this year there have been 201 (27 more sold); an increase of 15.52 percent. Sales volume is also increasing compared to 2011. There has been approx. $150.1m in sales so far this year compared with approx. $134.8m in 2011; an increase of 11.40 percent. The median sales price decreased to $435,000 year to date compared with $466,000 in 2011.
Condo Sales
The number of condos sold year to date has also increased from 155 sold in 2011 to 165 sold so far in 2012; an increase of 6.45 percent. Sales volume for condos has also increased. There was approx. $52.6m in sales last year compared with approx. $58.5m in sales so far for 2012; an increase of 11.17 percent. The median sales price increased to $294,000 from $225,000 in 2011; a 30.67 percent increase.
Vacant Land
The number of vacant land parcels sold this year has increased as of June compared to 2011. There have been 60 parcels sold in 2012 compared to 54 at this time last year; an increase of 11.11 percent. Sales volume for vacant land has increased 2.84 percent. There were approx. $27.3m in sales in 2011 compared with approx. $28.1m so far this year. The median sales price has decreased 16.28 percent from $322,500 to $270,000.
What can we take away from all the statistics above? Well for the most part we can see that since last year sales in most areas have increased over the last year. This is a trend that we should continue to experience in the real estate market not only on Kauai, but in the rest of Hawaii as well.
If you are on the market for a single-family home, townhouse or condo on Kauai, then now is the very best time to buy. Homes are starting to sell at a much better rate and with interest rates as low as ever people are starting to really take time to see what is out there.
Take some time to see all that the Kauai market has to offer. There should be nothing but positive Real Estate trend on Kauai moving forward.