The first 4 months of 2008 have come and gone and the sales statistics for the Island of Kauai have been posted. You can view a pdf of the April 2008 Kauai real estate sales stats here >>
The first thing that jumps out at me is the decrease in the volume of sales for April 2008 vs year to date (see page 1).
For 2008 year to date we see the following decreases in sales volume compared to 2007:
- Residential = -38.61%
- Land = -40.00%
- Condos = -42.15%
Now, if we look at April 2008 vs April 2007, we see:
- Residential = -55.81%
- Land = -52.00%
- Condos = -53.33%
We already know that sales have been slowing in 2008, but April shows a sharper downward trend then previous months. This information can be interpreted in many ways, and it’s probably best to discuss the trend with your Kauai real estate agent regarding your particular situation. But in my eyes, this looks like a great time to buy because your negotiating power is stronger than ever. For sellers, This may be a good time to hold on to your property if you can afford to during this buyer’s market.