What’s Behind the Numbers? Explaining Kauai Real Estate Median Price, 2023

Median Home Price Hits New High
December 2022
Kauai Housing Market States Most Expensive
Feb 2023
Home Sales Plunge On Kauai
March, 2023
Spiraling Housing Prices Spark Worry About Hawaii’s Future
April 2023
June Home Sales Highest Of Year On Kauai
July 2023

These are actual headlines taken from a local newspaper and they are all attention-grabbing. And, given the unique state of the market right now, it’s easy to see why because within a span of just a couple of months, the headlines swing from one extreme to another.

Median Price Skewed

What’s driving this is the lack of sales due to the lack of inventory and this is skewing the Median Home Prices.

Here’s what I mean; If you have 3 home sales at $500,000, $500,000 and $1 Million the Median Price is $500,000. The next month 3 homes sell but now it’s $500,000, $1 Million and $1 Million now the Median Price is $1 Million. The value of the homes has not changed, just the mix of what has sold.

Properties Sold on Kauai

On Kauai the number of properties sold is down by double digits, and that’s after a couple of years of one of the most bullish real estate markets in history. With not a lot of new building happening, and Sellers with a fixed 3% interest rate feeling no pressure to list their property, these inconstant Median Prices and newspaper headlines I think will be with us for a while.

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I hope you have enjoyed the video and have a wonderful rest of your day. Aloha!

Lynda Gill
RS Lic 63088
Hawaii Life
808.346.0056