September 2007 MLS Condo Statistics
I thought I’d take a moment to look at September MLS statistics to see how condo sales last year compare to this year. Island wide, the number of condo sales for the month of September decreased 57% from 47 sales in Sep 06 to 20 sales in 07. Year to date, Island wide, sales are down 58% from 575 last year this time (end of September) to 241 this year.
In the Hanalei district, which encompasses all of Princeville and the Hanalei Colony Resort condos in Haena, sales are up 66% with 6 sold last September and 10 this September. Year to date, we are only down 5% from 95 sold in 06 to 90 in 07.
Sales volume Island wide for condos is down 57% from $31,970,636 in September 06 to $13,535,700 in Sep 07. Year to date, the decline is 40% from $280,705,719 to $165,985,450. In Hanalei, sales volume is up, from $4,135,365 for Sep 06 to $8,149,000 for a 97% increase. Year to date sales volume is up 41% from $62,690,501 in 06 to $88,452,477 year to date in 07.
And finally, the median sales price Island wide for condos is down .8% from a median price of $595,000 in 06 to $590,000 in September 07. Year to date for 06 shows a 41% increase from $395,000 in 06 to $560,000 year to date for 07. In Hanalei district, condo median sales price is down 12% from a high of $746,000 in Sept 06 to $654,000 in Sept 07. Year to date shows an overall increase of 33% in the median price, up from $599,990 to $802,050. Keep in mind the median is not the average but rather the midpoint of all condos sold for the month or year to date. A higher median price does not necessarily mean prices are going up but rather that more high end condos are selling than low end, bringing the midpoint up. It appears that the month of September saw more mid range sales, judging from the lower median price while overall year to date we see more high end that low end condos selling.
To review Monthly Statistics in its entirety, please visit my website, www.kauairealestatenow.com and click on monthly statistics. Overall, despite a higher median price point, my experience is that Princeville condo prices continue to soften across the board, creating many opportunities for investment.
Aloha Elaine
Elaine Schaefer (R, GRI, ABR)
Broker in Charge – Princeville Resort Office
Graduate, Realtor’s Institute
Accredited Buyer’s Representative
Top Producer 100% Club
RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.kauairealestatenow.com
blog: www.blogs.alohaliving.com/princeville-condo-sales
……you can have your own piece of paradise
ask me how!
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