Pacific Business News, April 15 this year, reports positive first quarter changes in Kauai real estate sales.
For single family homes, median prices were generally stable, rising 2.7%. Number of sales went from 76 to 91, up 20%.
Condo median sale prices went down 22% from $345,000 to $270,000, but number of sales rose 18% from 55 to 65.
This comparison was to the first quarter of 2010. Many of these properties, especially condos, have been distressed (short sales, foreclosures, and REO’s – bank owned properties being shed).
These changes support what we have been advising for months: prices may have bottomed out and some major property sectors are rising. Loan rates remain at near-historic lows.
Tourism is up, and lots more visitors want to see properties. Five years from now you may say, ‘Gosh, I missed it again.’ Kauai real estate in 2011 looks like the right time to make your move.