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Condos

Buying a Condo on Kauai: August 2023 Year to Date Sales vs August 2022

Join me as we take a look at the Kaui Condo Real Estate Market for August 2023.

The number of sales is down, but the median price is up for condominiums on Kauai. It’s the month of September and we’re looking at the first 8 months of condominium sales. Across the board the number of sales are down by big double digits. We had sold 325 condominiums at the end of August island-wide last year and this year 210. South Shore went from 130 sales to 76. North Shore sold 61 condominiums compared to 43 year to date. Lihue went from 85 to 60.

Sold Price vs. Original List Price

We see a bit of softening when we look at the sold price compared to the original list price this last August compared to same month a year before. And looking at what sellers are getting before they did any price reductions is a better way to read where the market is going and here’s what I mean; last year sellers were getting 101.7% of their sold price compared to their original list price, this year it’s 95.1% which tells us that prices this year are being adjusted when the year before we saw none of that. That being said, the 95.1% ratio is still a great number. Days on market are a little longer at 43 compared to 35 in August of 2022.

Median Price Up

The median price is up for the island of Kauai, going from $701,000 in 2022 to $730,000 this year. The South Shore had a 12.92% increase from $708,000 to $799,450. North Shore was at $995,000 at the end of August 2022 and now at $1,194,500 a 20.05% increase. Lihue went from $500,000 to $545,900 a 9.18% increase.

While the median price can be helpful to look at it’s not the most reliable when you’re looking at purchasing a property, I did a video to explain why that is. To access that video click HERE.

I think you’ll find the information in this video very helpful.

If you would like Kauai real estate updates delivered to your inbox every week you can sign up at https://conta.cc/3scxsX4.

I hope you have enjoyed the video and enjoy the rest of your day, Aloha!

Lynda Gill RS Lic 63088
Hawaii Life
808.346.0056

Posted on in Condos, Hawaii, Kauai, Sales, , , , , ,

Lynda Gill
About the Author

Lynda Gill

Lynda Gill is a Realtor Salesperson with Hawai'i Life. I have close to two decades of experience as a top-producing real estate agent on Kauai, where I’ve lived since 2004. I specialize in residential, relocation, and resort property sales in Poipu Beach, Lawai, Omao and Kalaheo, on the island’s South Side. Over the course of my career, I’m proud to have earned accolades and designations, including being recognized as a top performer by Hawaii Business Magazine. But what really drives me is helping my clients with one of the most significant events in their lives. There is nothing quite as satisfying as helping clients achieve their financial goals or seeing their eyes light up when the right property comes along. You can email me at lyndagill@hawaiilife.com or via phone at (808) 346-0056.

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