They were then able to reduce pricing during the down market that started in 2009. Lihue 55+ living community, Sun Village, in escrow within 12 days on the market. The pandemic ushered in a new era of remote work that will undoubtedly continue now that the world has opened , Aliomanu Estates is a luxury acreage development with immediate sandy beach access on Kauai. sales volume, 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. Your email address will not be published. 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 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. Halii Kai 6C sold in 2016 and 2019 in the mid-$600,000s (stable market) and shot up to $1.2 million in 2022. sales volume. in Big Island, Condos, Hawaii, Ocean View, Oceanfront, Halii Kai, The current months of inventory available is1.8 months, a decrease of-11.7%comparing Q2 2022 to 2 months in Q2 2021. Scarcity appears to be one of the running themes for the market moving forward. January 14, 2022 Kauai real property sales for December 2021 are reflected in the graph above. Each of our real estate listings provides comprehensive information on essential details including property features, price change, transaction history, and amenities. Kauai Top Producing Agents by Sales Volume, Posted on That finally rose to almost $800/sq ft when I listed and sold 6F in 2021. Positioned on the northeast coastline, Aliomanu , This rare 3.5 acre Kauai estate features a well-designed island home, built to take advantage of panoramic coastline views and , On January 25th, this spectacular Kukuiula home on the south shore of Kauai was overwhelmingly voted Wall Street Journals House . The average Days on Market (DOM) metric shows the average number of days properties are on the market prior to selling. 1995-2016 Honolulu Board of REALTORS. Please help us to better serve you by answering these optional Interested to know more? Already have an account? December 2022 and December 2021 monthly comparison Posted on February 11, 2022 in Hawaii, LaurenPingree@HawaiiLife.com You can email me at LaurenPingree@HawaiiLife.com or via phone at (808) 212-8058. All rights reserved. For the seller, this means that buyers will continue to compete against each other for a limited supply of available homes, likely driving prices up. For questions concerning these issues, consult with either the Hawaii Real Estate Commission, your Principal Broker, or an Attorney. The previous quarter concludes one year since the onset of what has been an amplifying demand shock,catalyzed by the Covid-19 pandemic, to the real estate market. 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. It has been provided by sources other than the Realtors Assoc. 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. The . .css-11kxzt3-Strong{font-weight:var(--font-weight-medium);}Six months into the Covid pandemic, Cynthia Cook was making dinner for her family in Northern California while her husband, John Cook, planned a getaway to Kauai, the northernmost of Hawaiis major islands. ft. home is a 4 bed, 3.0 bath property. Note: Honolulu Board of REALTORS receives inquiries seeking professional advice; however the Honolulu Board of REALTORS staff is not qualified, nor licensed, by the state of Hawaii to properly address real estate or legal issues. 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. 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. This 3 bedroom, 3 bath Condo at 3770 Ala 'Oli Way 2201 Lihue 96766 Located in HOKUALA MLS 668427 has been listed on LocationsHawaii.com for 2 days and has been priced at $445,000. The North Shore saw residential sales volume of $102.9M in Q2, a year-on-year drop of 58.9%. That number does not speak to the 875% jump in vacant land sales volume nor the 273% increase in condo sales, collectively of which adds another $198.6M to total sales volume in the market for the quarter. questions. Please be nice. 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 below chart depicts monthly sales and median prices for both the entire island and theNorth Shore. We greatly appreciate your trust in us with your real estate business which propelled us to being #1 in Sales Volume in the State of Hawaii in 2021 and to #29 overall nationwide, according to Real Trends. Quarter on quarter to last year, we have witnessed a more than 300% increase in island-wide residential sales volume sales volume hit $457.9M in Q2 2021 compared to $113.6M in Q2 2020. Note: Honolulu Board of REALTORS receives inquiries seeking professional advice; however the Honolulu Board of REALTORS staff is not qualified, nor licensed, by the state of Hawaii to properly address real estate or legal issues. Kauai Sales Leave your opinion here. The 3,016 sq. 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. Your email address will not be published. Information herein deemed reliable but not guaranteed. At this complex alone, there were 10 sales last year (inventory constrained) and 25 sales the year before. Median sales prices however, with a couple of exceptions, still continued to exhibit modest increases. January 2023 Kauai land sales decreased by 47% compared to January 2022 land sales. 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. (The unit next door, 6B, is still in the hands of original owners, who paid $729,000.) WebMLS: 668427 (Active - For Sale) New Listing! In our effort to better inform you, whether a you are a buyer or seller, we are providing a number of relevant sources to reference. Of these 11, five have been for sold prices greater than $20M. Neal Norman is a REALTOR Broker with Hawai'i Life. Leave your opinion here. Views and More Views This newly , Living on Oahus Gold Coast is a dream for many. In this page not only will you see properties represented by , but also properties represented by other members of Hawaii Information Service. 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 real estate market inventory on Kauai continues to be whittled down. Your email address will not be published. When single-family homes on Kauai did sell after their brief presence on the real estate market, the average sales price was 65.6% more than in Q3 of 2020, coming in at $1.903M. The Ocean Club amenity. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Sun Village C212 Lihue 55+ condo, Just Listed! Your email address will not be published. our Subscriber Agreement and by copyright law. Whether by foresight or by luck that meant the developer sold the most expensive real estate (direct oceanfront and oceanview) during the 2005-2007 market peak. Condo: Tk Resort #2201 (Fractional Ownership) Asking Price: $445,000 Fee Simple Type: Fractional/Timeshare District: Lihue Street: 3770 Ala 'oli Way Neighborhood: Hokuala Monthly Association Fee: $1895.25 Beds: 3 Baths: 3 Full / 1 Half Living Area: 2,012 SF Ownership: Fractional Pool: Yes Parking: 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. 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. In our effort to better inform you, whether a you are a buyer or seller, we are providing a number of relevant sources to reference. Copyright, 1995-2015, REALTORS Association of Maui, Inc. All Rights Reserved. Your email address will not be published. In this page not only will you see properties represented by , but also properties represented by other members of Hawaii Information Service. The developer held and finally sold for only $575,000 in 2010. This oceanview Poipu condo, 1 bedroom, 1 bath ground floor unit sold for $995,000 with only 9 days on the market. While the All rights reserved. Explore more of our beautiful listings at www.nealnorman.com. To receive a full copy of the 2Q 2022, please email me. Your email address will not be published. Copyright 2016, Hawaii Information Service. DMCA Notice. January 2023 Kauai condo sales held steady with minimal, 3417 Poipu Rd., Ste. 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 can email me at beth@hawaiilife.com or via phone at (808) 443-4588. 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