Kauai Real Estate Q4 + Jan/22 Review
At risk of sounding like a broken record, our late installment of this market update is thanks to a very busy quarter and start of 2022 (once again). To compensate for our tardiness, we are including some market statistics from January 2022. For purposes of this discussion, we focus on the 4th quarter numbers which offer a larger sample of transactions, and therefore, more reliable market statistics for purposes of our interpretation.
The year on year numbers are starting to transition, with a basis of a full throttle Covid real estate market as our benchmark. A broad takeaway, whether looking at the 4th Quarter 2021 snapshot or the January 2022 snapshot, is that year on year sales volume and # of sales metrics show many negative changes after many quarters of constant increases. Median sales prices however, with a couple of exceptions, still continued to exhibit modest increases. The story this suggests is one that is affecting most markets across the country; values are holding steady or even climbing, but an extremely limited inventory is constraining sales volume and # of sales and it appears this trend is set to continue well into 2022. Certain market segments of Kauai (ie. under $1.5M, Princeville residential properties) are currently non-existent. Scarcity appears to be one of the running themes for the market moving forward.
If you’d like to explore the numbers a bit deeper, check out the market snapshots below for January 2022 and Q4 2021, or via the following links for an enlarge versions – Kauai Snapshot January 2022 + Kauai Snapshot Q4 2021
Monthly Sales and Median Price Statistics
The below chart depicts monthly sales and median prices for both the entire island and the North Shore, and is another example of the slowing activity in the number of sales. Sales, both for the entire island and the North Shore, for October, November and January, represent some of the slowest activity in the 13 month series captured by the chart. Interestingly, both series saw a pop in sales for the month of December.
Long Term Quarterly Median Sales Price Trends
Quarterly data is a much better indicator of value than the monthly median data above, due to the fact that our market is quite small, with few data points even when highly active. Median prices, at their current peak, are significantly above the peaks seen in the late 2000s.
Explore more of our beautiful listings at www.nealnorman.com.
Tom Linton
February 12, 2022
Why would the Mowry buffalo ranch not be selling? Any particular reason(s)?
On its face, seems a reasonable asking for what it is in yr current market.
Best,
TL