The May 2012 market statistics are available! Below is a summary of how the Kauai real estate market is doing year to date so far for 2012 compared to last year.
Year to date island wide residential sales have continued to increase! At this time last year there had been 146 residential sales and so far this year there have been 170 (24 more sold); an increase of 16.44%. Sales volume is also increasing compared to 2011. There has been approx. $130.6m in sales so far this year compared with approx. $118.1m in 2011; an increase of 10.62%. The median sales price decreased to $452,500 year to date compared with $495,000 in 2011.
The number of condos sold year to date remains steady from 127 sold in 2011 to 126 sold so far in 2012; a slight decrease of 0.79%. Sales volume for condos has also decreased slightly. There was approx. $44.2m in sales last year compared with approx. $43.6m in sales so far for 2012; a decrease of 1.28%. The median sales price increased to $285,000 from $207,000 in 2011; a 37.68% increase.
The number of vacant land parcels sold this year remains steady when compared to 2011. There have been 43 parcels sold in 2012 compared to 44 at this time last year; a decrease of 2.27%. Sales volume for vacant land is down 38.42%. There were approx. $24.7m in sales in 2011 compared with approx. $15.2m so far this year. The median sales price decreased 21.22% from $327,500 to $258,000.
The above is a look at the market statistics island wide. If you’d like to know how the market is doing in a specific area of the island just let me know. I’d be happy to email you a summary!