Below you will find a sample of some Kauai relevant market statistics from Q3 ’17. If you’d like to explore the numbers a bit deeper, check out the Q3 2017 Kauai Snapshot.
Once again, the Kauai real estate market is putting up some very strong results. In the third quarter of 2017, Kauai as a whole saw $140,000,000 in sales volume, up from $126,000,000 in sales volume during the same period in 2016—a more than 10% jump. Those sales totals put Kauai at $410M in volume for the year to date which is about $10M more than the first 9 months of 2016.
For the North Shore of Kauai, residential volume has also close to mirrored 2016 both for the quarter and for the year to date. During Q3, sales volume dropped off 5.43% from $52.6M to $49.7M and year to date volume is up a narrow 2.29% from $171.5M to $175.4M.
Now, three quarters into the calendar year, the story is that we are having another robust sales year that is more or less on par with what we saw in 2016. In addition to the similar sales trends mentioned above, the high end is performing similarly as well. We have seen 18 transactions for a purchase price above $3M so far in 2017 versus 19 through the same period in 2016, and both years have seen three $10M+ transaction during their first three quarters.
The long-term graphic below displays quarterly median sales prices over the past 11 years. We see that prices continue to be very strong within both of these metrics, and, as we’ve mentioned in past newsletters, they continue to float around peak levels for many sectors. Unlike during the past peak, the market fundamentals are very solid and suggest to us a strong market moving forward.