Aloha! The January numbers are in for us to take a look at how Kauai homes sold last month compared to January of 2022. Every month we do this review but now it’s starting to get interesting because for the first time we’re comparing a pandemic year to a pandemic year. The number of homes that sold are down and in some areas the Median Price is down as well but that is not the whole story. I believe what we are seeing here is the lack of housing inventory that is starting to show up in the numbers.
Let’s Break This Down:
For the entire island the number of homes sold was down -15.79%. The south shore saw a -18.18 decrease in the number of sales and the north shore saw -33.33% decrease.
The Median Price is down -10.71% island wide, on the south shore it was down -16.38% the North shore it was up +67.27%.
But here is where we see the bigger picture of what is going on:
In 2021 the Price that a home sold for compared to the Listed Price averaged at 96.55% however in a year that changes and we start seeing homes selling for over the asking price. In January 2022 the price that a home sold for compared to the listed price was way up 109.8%. We see this sift of homes selling for over the listed price and I believe it’s due to the lack of inventory, only 48 homes sold last month compared to January 2021 when 57 homes sold.
These numbers are general in nature and might now reflect your particular area of interest. You are welcome to call me to discuss Kauai real estate. Aloha!
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Lynda Gill RS Lic. #63088
Hawai’I Life Real Estate Brokers
808.346.0056
LyndaGill@HawaiiLife.com
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