Kauai 2012 January Market Statistics

Aloha,

We’re starting the year out right – with a total of 63 sales for Jan 12 which is a 9% increase over the 58 sales of Jan 11. Any increase is good news! Of those 63 sales, 30 were residential, 8 land, 4 commercial and 21 condos. The Waimea zone accounted for 4 of the sales, Koloa zone saw 11, in the Lihue zone there were 12 sales, 19 in Kawaihau and Hanalei zone had 17 transactions. This month’s number is an increase compared to past Januarys – in Jan 10 there were 54 sales, Jan 09 saw 20 sales, 08 had 50 sales and only Jan 07 had more which was 68 sales.

Sales volume was down dramatically showing at 20% decline from $38M in Jan 11 to $30M for Jan 12. Residential took a 43% decrease, going from $30M in sales in Jan 11 to $18M for Jan 12. Condos were up 44 % with $7M changing hands in Jan 12 compared to $5M in Jan 11. Still, these monthly numbers are up from recent years – Jan 10 had $22M in sales volume and Jan 09 $24M. Jan 08 was a good year with $47M and was topped by Jan 07 with $55M. Of course, 06 and 05 will always be the banner years but I only go back 5 years in reporting.

Median sales price was at $402,500 for Jan 12 residential compared to $421,000 for Jan 11. Land was about the same, going from $255,000 in Jan 11 to $234,950 in Jan 12. Condos stayed the same with $270,000 as the median price for both Jan 11 and 12. Quite unusual. Keep in mind these are median prices and not average pricing.

We’re still seeing short sales and foreclosures, although short sales are far exceeding the number of REO’s. It cost the bank less time and money to process a short sale and they seem to be closing them with less stress than a couple of years ago. This may be due to the fact that more and more agents are “short sale” knowledgeable and are bringing more informed buyers and sellers to the table.

Whatever the case, there’s good buys to be had in today’s market place, if you have the time and energy to commit to finding the right property for your needs. As a buyer or seller, if short sales are your goal, please do ask your agent if they have had any specialized training in this area and / or how many short sales transactions they’ve handled. In this market, a good agent can often mean the difference between a closed transaction or a property going back on the market.

If you have any short sale or foreclosure questions, or questions about this month’s statistical report, please do not hesitate to ask. For a copy for a copy of the full report, please go to my wesbsite and click on “monthly market statistics” along the left margin.

See you the beginning of March to check the market pulse once again.

Aloha Elaine

Nothing like a westside sunset over Niihau.

Elaine Schaefer (R, CRS, GRI, ABR, SFR)
Broker in Charge – Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor’s Institute
Accredited Buyer’s Representative
Short Sale and Foreclosure Resource Certification
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

……Making your real estate dreams
my business………