Pacific Business Journal article
Tuesday, September 8, 2009
Kauai condo sales rise, home sales slip
Pacific Business News (Honolulu)
Sales of condominiums on Kauai picked up in August, while single-family home sales slipped. The trend was similar for median prices, according to statistics from Hawaii Information Service.
The median price of a single-family home on Kauai last month was $471,000, down 11 percent from $530,000 in August 2008. That was based on 23 sales, down 15 percent from 27 sales during the same month last year. Condo sales more than doubled in August to 15 units sold, up from seven in August of last year. The median price of a Kauai condo last month was $300,000, virtually unchanged from $299,000 in August 2008. The year-to-date statistics, however, show sales were down by 26 percent in both categories.
The median price for a single-family home on Kauai during the first eight months of the year was $470,000, down 27 percent from the same period last year. The median price for a condo on the Garden Isle was $330,000, down 42 percent from $567,000 during the first eight months of the year.