January Sales Statistics
By Coreen S. Sarabia, R, ABR, CIPS, CRS, RSPS
January homes sales showed an increase in number of units sold, however, dollar volume and median prices were lower than January 2009 figures. The 31 homes sold in the first month of the year represents a 210% increase over the same time last year. The south shore of the island led in number of units sold with approximately 55% of the sales being either bank owned or short sales. The central area of the island had a similar percentage of distressed sales. Island wide prices for this type of transaction ranged from $201,000 to $695,000.
NUMBER OF SALES - JANUARY 2010
Kauai condominium sales were also higher in units sold and sales volume wih a comparable drop in median price. Both home and condo median prices are 19% below January 2009 numbers. Central Kauai led in condo sales with 83% of the transactions being bank owned or short sales.
MEDIAN PRICES - JANUARY 2010
Land sales were the only segment of the market to show positive numbers in dollar volume, units sold and median price. Over 50% were cash transactions as conventional financing options for raw land remains difficult to obtain.
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