Year End 2008 Market Statistics
All year long people have been talking about just how bad the real estate market has been. Now that the year is over, let’s take a look at the end of year statistics and see how they compare to the years past. For the month of December, there were 39 sales, down from 56 last year December. For 2008 there were 587 sales well off of the 909 properties that sold in 2007 and much less than the 1554 sold in 06 or the 1796 sold in 05.
For 2008 there were a total of 283 residential sales, compared to 408 in 07, 476 in 06, 671 in 05 and 696 in 04. There were 122 land sales in 08 compared to 191 in 07, 360 in 06, 436 in 05 and 398 in 04. Only 169 condos sold in 08 compared to 295 in 07 and a whopping 698 in 06. There were 673 condo sales in 05 compared to 521 in 04.
Sales volume for the year 08 is at $465M, while 07 posted a much higher amount at $792M. 06 was a banner year with $1.087B but was beat out by 05 with a high of $1.202B. 04 was at $930M. Sales volume for the year in residential Island wide in 08 was $251M down from $395M in 07 and $440M in 06. 05 had tremendous volume with $562M in residential sales while 04 was at $449M.
The median sales price for residential for 08 ended up at $615K, a 35% decrease from the $650K posted in 07. 06’s median sales price was $675K with 05 at $639K for the year. This was quite a jump from the residential median price for year end 04 of $499K. Condo’s were also down from $545K this year to $565K in 07, $405K in 06, $435K in 05 and $375K in 04.
To see the complete three page MLS statistics, click here to view it on my website, www.kauairealestatenow.com.
Regardless of the number of sales that will be forthcoming in 2009, I can guarantee on thing and that is that there are bargains and good buys throughout the Island. With interest rates at all time lows, 2009 may be the year to make your dream of home ownership on Kauai a reality.
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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