Kauai, once again, saw strong and robust real estate sales in the third quarter of 2018. All market segments performed well, but residential segments for single-family homes and condominiums saw remarkably strong numbers. During the quarter, we saw $173M in single-family home sales volume which was a roughly 21% jump compared to the same period in 2017, and over $67M in condo sales volume, a nearly 49% increase. The North Shore saw an incredible $72M in residential sales volume and such in the context of a subdued Haena market due to the ongoing road repairs following Kauai’s April floods.
Among the high end of the market, there were 5 transactions for properties priced at or above $5M. Three of the five sales were for oceanfront properties, and one for a bluff front property along Kilauea Road overlooking Secret Beach.
Below you will find a sample of some Kauai relevant market statistics from Q3 ’18. If you’d like to explore the numbers a bit deeper, check out the market snapshot below or via this link for an enlarged version.
From the above sales and median price chart, we again observe what we have seen over the past year of monthly samples; a strong number of sales this month and once again, quite strong median sales prices both island wide and specific to the North Shore.
The below graphic highlights the past 11 years of quarterly median sales prices. The island-wide median sales line continues to show a steady, but gradual, upward trend since early 2012. The trend for the quarterly North Shore median residential sales price continues to display a steeper upward trend and this past quarter’s median sales price point represents its highest value during the 11-year sample.
And again, we thank you for the continued support in trusting us with your business. We had several strong sales in the third quarter of 2018 and through the first three quarters of the year, it is our strongest year by sales volume, ever.