April  2009 Sales Report

By Coreen S. Sarabia, Realtor

Homes Sales -

There were a total of 23 sales islandwide during the month of April  which is exactly the same number recorded in March.   Year to date, this represents approximately a 32% decrease from the same period last year.  Since the year to date figure for this segment of the market was previously down by nearly 44%, this is actually good news.

The dollar volume for all of Kauai was only 8% lower than what was recorded during April of 2008.  Year to date figures are off by 32%, slightly better than the 39% decrease at the end of the first quarter of 2009.

The median price for a house on Kauai in April  2008 was $575,000 compared to $600,000 for April 2009.   However, this is why one should always examine the year to date numbers as these figures are considerably different with the median price at $655,000 a year ago to the current year to date median price of $479,000.... definitely a reflection of the bank foreclosed and short sales.

Land Sales -

There were a total of 10 vacant land sales in the month of April. There was a variety of land transactions from a 32,980 sq. ft. parcel on Anahola stream for $175,000 to a golf course lot at Pikake for $245,000 to a 6.5 acre Kalihiwai Ridge property for $1,000,000.

The total dollar volume for vacant land is still weak, down by 87% year to date compared to the same period last year.

The median price for land in the month of April was $260,000, slightly higher than the year to date median of $225,000.

Condominiums

The year to date median price for a condominium on Kauai remained virtually the same for the 2nd consecutive month.  At $238,000 this represents a 58% drop from 2008.  This segment of the market is another assortment of transactions.   On the south shore there were lower priced Kiahuna Plantation sales while the central Lihue area of the island had owner occupant type property sales at Halelani, Regency Huleia and Kalapaki Villas.   The most interesting sales in this area of the island were at the Kauai Beach Resort were there was a sale for $59,500!  There were a total of 12 condominium sales in the month of April which represents a 20% drop from April of 2008 and a 42% decrease year to date. 

If you would like to see more details on the actual properties that sold,

Click here for homes

Click here for condominiums

Click here for land

Go to my blog at www.kauaipropertysource.com/blog for updates on the real estate market on the Kauai.