Hi from Kauai!
Ann here in Princeville sending out the quarterly market report for you.
I’ll link up some of the key words below so you can click and see the live market up to date by the hour. Feel free to call us if you need more in-depth info but using the hyperlinks is a great way to bone up on the market.
Condo sales over the the last three months: we had 21 buyers close on condos at an average price of 727k. With Kaiulani and some of the Puu Poa listings and HBR selling, that really brought the average condo price up. Seems like just a couple years back the average sale price was in the 5’s. Ocean view condos seem to be the hottest ticket only sitting on the market about 50 days (which is a pretty quick sale here on Kauai). There don’t seem to be enough of those to go around. Princeville is almost all built out with about 45 vacant house lots still open but all the rest of the dirt here is developed. Don’t expect any new condominium developments.
Here’s the GREAT news. There are 74 condos listed in Princeville right now, so there’s about 10 months of inventory. That still makes it buyers market!
Home sales were slower than condos with only 14 sales in the last three months. There were some big time deals that closed, one for over 5m on Hanalei Plantation road. The average sale was 1.735m but there are still deals to be had on the North Shore. One home in Princeville closed for 525k, but those are few and far between anymore.
There are about 4.5 homes selling a month and we have 39 listings active right now so thats about 9 months of inventory. Buyers market all the way around in Princeville! Mortgage rates are still low (maybe until the end of the year the Feds say) so come on out and take advantage of a good selection of inventory and low rates!
Hope this helped get you acquainted with our Princeville market. Nothing beats a call with your friendly realtor… ME! So feel free to call and we can drill down on the details.