Poipu and Koloa Sold Homes on Kauai. May 2016

    Aloha Kauai Real Estate Group Ohana!

    It’s JP again with your monthly update on how the market is doing for May 2016.  Don’t miss the market snapshot below, there’s a ton of inventory in the Koloa market and I break it down by the numbers.

    My intentions with doing these posts are to educate you on the market.   The reason I started doing these was because I had a well established client telling me that he believed the properties were overpriced in Poipu.  I wasn’t entirely sure so I started digging around.  After looking at the numbers I believe he is correct.  Which, is why you see there are so many properties sitting for a long time on the market and the original list price to sale price is a sad 85%.  That is ridiculous when you consider that much of the West Coast and other islands are in a seller’s market with bidding wars.  It is clearly a buyer’s market in this area. Below you will see the figures that back up my comments.

    These Sold properties are located in the Koloa town and Poipu areas.  More specifically Tax Map Key 4-2-6 and 4-2-8.

    Here is what happened in May:

    Kauai Real Estate Market update for Poipu and Koloa May 2016

    I went to the University of San Diego and studied Business Administration and took some real estate investment classes.  So, I’m a numbers guy.   I understand that buying a home can be an emotional purchase when it is your primary residence.  You might be willing to pay more for a home that “you just love” or is “just the right fit for you or your family.”  I get that.  But, when it comes to resort properties that you think you might be renting out, then you have to look at the numbers.  Numbers won’t lie to you.  People, feelings, and emotions will.

    Here’s the market snapshot: As you can see 15 properties sold in the month of May.  Two of them are Single Family Homes, two are vacant lots, and 11 are Condos.   There are currently 200 active listings in the same area.  So that means that means if 15 homes sold every month and nothing new came on the market then we would have 13.3 months of inventory.  That is a huge surplus!

    Here are links to my other blogs on the market if you want to look at other areas or get more market info:

    JP’S BLOG ON KAUAI REAL ESTATE

    You can also see that homes that are priced closer to actual market value usually sell much quicker. So if you are thinking about selling, which I can help you with using the power and millions of extra impressions / visitors to Kauai Real Estate Group. As an added bonus I’ve included what I think is one of the best homes on the market right now on the south shore. Located on the beach… Check it out in full 3D!

    I hope that you find this information useful.   If you or anyone you know have any questions about the market or want buy or sell a home, than please reach out to me.  I would love to educate you and help you along the way.

    JP Bolwahnn

    Realtor on Kauai JP Koloa Kalaheo Poipu Listing Agent

     

     

     

     

     

    808-482-4605

    jp@kauaireg.com

    More great info about the garden island of Kauai can be found at Kauairealestategroup.com or read more of my blog posts: JP’s Kauai Blog

    Trackback from your site.

    JP Bolwahnn

    JP is a Navy Veteran. In total JP had 13 years in the U.S. Navy, 12 of those as a Navy S.E.A.L. He traveled overseas during peacetime was deployed during wartime. He left the military to pursue other interests in Real Estate, Education, and CrossFit. JP is married to Mary who is born and raised on the south side of Kauai. She found a job in 2015 working with the state and they quickly knew that they would be moving from San Diego to Kauai. “Happy wife, happy life!” He met his beautiful wife at the University of San Diego where they both went to College. Since being on Kauai he can see how living on this island is truly living in paradise. With the beautiful landscape and ocean views, non-stop activities, and the sense of Ohana within the community, he can see what makes Kauai so special. Because of his military background he is no stranger to attention to detail, hard work, determination, and professionalism. Which is exactly what you need with such and important transaction as buying or selling property in Hawaii. He attended the University of San Diego and finished a Bachelors in Business Administration and has a current California Real Estate license (CA BRE #01743713) and current Hawaii Real Estate License (RS-77692). During JP’s free time he enjoys coaching at local CrossFit Gyms, at Swim Kauai Aquatics as their strength and conditioning coach, coaching athletes in Olympic Weightlifting. He also enjoys surfing, and golfing at the the amazing courses Kauai has to offer. JP has been featured on ESPN “From War Zone to End Zone” and also in the Jim Rome show, San Diego Union Tribune, and LA Times. Look him up! You will quickly get an idea of JP’s work ethic and his ability to set goals and pursue them. He's got an infectious laugh and spirit that makes everyone around him want to do better and be better. JP Bolwahnn 808-482-4605 jp@kauaireg.com
    Comments are closed.