Kauai Market Update – “Pin the tail on the donkey??”

Where’s the market?  Tracking Kauai market statistics and conflicting national foreclosure news makes me feel like I’m blindfolded, being spun around trying to find ‘the bottom.’

As you can see from the weekly news highlights below, reports are all over the map.  Up, down and in between.  Within the small island of Kauai, we also have ‘micro-markets’ with wide ranges in values and sales results.

As one much wiser than myself said, calling “the bottom” is an historical event.  We won’t really know it until it’s already happened.  However, Kauai’s MLS statistics for April show some significant trends.  Island-wide the number of residential sales are up 69% compared to April 2009.  However, median sales prices are only up 2.86%.

Almost two years ago, when asked what would a market recovery look like, Paul Brewbaker, SVP and Chief Economist, Bank of Hawaii, said that it would be similar to Kauai’s recovery after Hurricane Iniki.  There would be a ‘tranquil’ period with very few sales, then the number of sales would start to increase which would gradually drive the values up as shown below:

Kauai Real Estate Sales Volume

Additional market insights from Paul Brewbaker;

Although we may not be able to call “the bottom” and it’s unclear where the foreclosure market is really headed, it is significant that the number of sales has increased so dramatically.  It just may be the perfect time to jump into the Kauai market and set your dreams in motion.

Let us know your thoughts… is now the time to buy?

This week’s foreclosure and market news highlights:

Kauai Short Sale and REO Market Updates:

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About Susanna "Susie" Kunkel, RA

With a belief that life is too short to not follow your dreams, Susie and her daughter became new Kauai residents in less than 4 months after visiting for the first time in 2000. She brings a wealth of information from her background in administrative, contract and paralegal work in a variety of industries including technology, investment banking, biotech and estate planning. As a Realtor, Susies's tenacious and technical approach have earned her a large group of extremely loyal clients. Susanna is a steadfast believer in "The Golden Rule", and applies it to her approach as a Realtor. "Each client and each property are unique, so it's important to me to listen intently to what my clients' goals are, and to make sure I go above and beyond to help meet them."
This entry was posted in Housing market, Kauai market updates and tagged , , . Bookmark the permalink.

2 Responses to Kauai Market Update – “Pin the tail on the donkey??”

  1. Nice compilation and stats of local Real Estate news. It is good idea to keep us informed with local trends. Thanks for sharing

  2. It is hard to get this type of localized news about market.

    Thank you for the info

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