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Kauai Condo Market Update October 2024 | Prices Hold Strong Amid Rising Costs

🏝️ Kauai Condo Market Update: October 2024

In this month’s update, we’re tackling the latest trends in Kauai’s condominium market, where despite the headwinds from rising association dues, increased insurance rates for 2025, and the ever-present “election anxiety,” condo prices are showing impressive resilience.

Key Highlights

  • Total Sales: By the end of October 2024, we saw a 3.53% decrease in condo sales compared to last year, dropping from 255 to 246.
    • South Shore: Sales fell 5.95%, from 84 to 79 units.
    • North Shore: A 7.41% decrease from 54 to 50 condos sold.
    • Lihue: Experienced the largest drop at 12%, from 75 sales to 66.

When we focus on October 2024 alone, there’s some positive news. Sales increased from 18 units last October to 27 this year, even though condos took longer to sell, with Days on Market stretching from 45 to 70 days. The Sold Price to Original List Price ratio also softened from 97.95% to 92.71%.

Median Prices

Despite these challenges, the island’s median condo prices rose to $769,700, up 6.17% from $725,000 in 2023.

  • South Shore: A robust 12.67% increase, with prices climbing from $793,500 to $894,000.
  • North Shore: A notable 8.50% decrease, dropping from $1,199,500 to $1,097,500.
  • Lihue: A modest 2.90% increase, from $535,000 to $550,500.

For Kauai Home Sales Year-To-Date comparing the end of October 2024 to the same time in 2023 click here;  https://www.hawaiilife.com/blog/kauai-real-estate-market-update-october-2024-big-changes-amid-election-anxiety/

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Mahalo for watching, and Aloha! 🌺

Lynda Gill RS Lic. #63088
Hawai’i Life
808.346.0056
LyndaGill@HawaiiLife.com

Posted on in Condos, Hawaii, Kauai, Market Intelligence, Market Trends, , , , ,

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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