The following report was posted in the Newsletter section of this website.

January 2009 Sales Report

By Coreen S. Sarabia, Realtor

The first month of the year has started with double digit decreases in number of units sold, median price and dollar volume... well,  that is not entirely true as there was a double increase increase shown in dollar volume, however, it was not a true representation of the category.

Homes Sales -

There were a total of 10 sales islandwide during the month of January.  This represents nearly a 55% decrease from the same period last year. 

The dollar volume for all of Kauai was approximately 27% higher than January of  2008, however,  this figure is heavily skewed by two high end sales of $13 milllion and $3.5 million on the north shore of the island.

The median price for a house on Kauai in January came in at $466,785, down from $585,000 last year.

Land Sales -

The Kawaihau area on the east side of Kauai was the only district to report sales during the month of January.   Three lots sold ranging in size from 7,475 square feet to 37,156 square feet with prices from $120,000 to $240,000.

The total dollar volume for vacant land was down a whooping 96% from the same period last year.

The median price also fell sharply by nearly 77% from $855,000 to $200,000

Condominiums

There were 7 condominium units sold in the first month of the year compared to 20 last year.   In the Poipu area, there was a Manualoha 2 bedroom that sold for $800,000 while in Central Kauai, there were sales at Kalapaki Villas, Kauai Beach Resort and Sun Village that ranged from $140,000 to $254,000.  On the Coconut Coast, an Islander on the Beach sold for $235,000 and on the north shore, a Sandpiper 2 bedroom sold for $375,000 and a Nihilani 3 bedroom recorded for $600,000.

Dollar volume in this category decreased by nearly 85% and the median dropped from $586,000 to $235,000 representing a 60% difference from the same period last year.

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