Kauai’s East Side Sales and Listing Update for August 2017

Residential Homes

For the month of August, on Kauai’s East Side, residential home sales slipped down slightly. We sold 14 homes this August compared to last year’s 16 sales for the same time period. With year to date (YTD), we are down by 9 home sales this year for a total of 99 sold when compared to last year’s total of 108 for the same time period.

Our East Side median residential sales price is continuing to increase slightly. The median sales price this August was $563,000, an increase of $15,147 or 2.76%. YTD the East Side median sales price has increased by 9.37% for a total median of $575,000. Last year during the same time period the median sales price was $525,000.

There are currently 74 homes for sale on Kauai’ East Side ranging from $315,000 for a home on Puka Street to $8,250,000 for a home in Kealia Kai. The current average days on the market (DOM) for a home on Kauai’s East Side is 200 days or a little over 6.5 months.

Condos

Condo sales are continuing to increase slightly. We sold 1 more condo this month for a total of 3 East Side condos sold in August compared to last year’s August total of 2. YTD we have sold 58 condos, which is a pretty large increase of 14 more condos sold than last year’s total of 44 for the same time period.

There are currently 30 condos on the market on Kauai’s East Side ranging from $149,900 for Village Manor #D11 to $1,100,000 for Hale Awapui #125 and $1,100,000 for Waipouli Beach Resort #H202 which is a short sale. Currently, condo listings have an average of 160 DOM which is about 5.3 months. There are currently 6 condos which have been on the market for over 6 months and 4 which have been on the market for 1 year.

Condominium median sales prices on the East Side have been decreasing this year. For the month of August, the median sales price was $776,050, and the median for the same time period last year was $915,000. Year to date our median condominium sales price has gone down by 12.68%. This is a decrease of $76,000 for a median condominium sales price of $523,500. YTD the current median price $270,000 which is more typical for the East Side. Last year’s YTD median was $384,950.

Vacant Land

Vacant land sales are also down slightly by 2 sales for August. We sold 4 vacant land parcels this month but 6 last year in August. YTD we are down 3 sales for a total of 30 vacant land parcels sold compared to last year’s 33 sold for the same time period.

Vacant land median sales prices are down this month by $36,500 to $343,750. YTD our vacant land median sales price has increased by 17.69% to $382,500. Last year’s median for the same time period was $325,000. Currently, there are 43 vacant land parcels offered for sale on Kauai’s East Side ranging from $100,000 for 5,000 s.f. to $4,000,000 for 63 acres. The current average size of a land parcel listing on Kauai’s East Side is 4.47 acres. There are currently 9 listings at 5 or more acres of land and 4 listings of 10 acres or more land. The average days on the market for a vacant land parcel on Kauai’s East Side is 256 days or 8.5 months.

For more information on purchasing or selling property on Kauai’s East Side, please contact me today.