Princeville Condo Sales » Monthly market statistics

October 2009 Kauai Market Statistics

Elaine Schaefer — Wed, 11 Nov 2009 05:57:43 +0000

Aloha,

For a change, this past month there was an increase in the number of sales Islandwide, from 46 last October to 50 this October which is a 8.7% increase. Year to date is still down with 519 units sold this time last year compared to 396 sold as of Oct 2009 for a 24% decrease. Of the 50 Oct sales, 32 were residential, 2 were land sales and 16 condos were sold. Of the homes that sold, 2 were in the Waimea Zone, 10 in Koloa, 3 in Lihue, 11 were in the Kawaihau zone and 6 were sold in Hanalei. Keep in mind these are Zones as defined by the tax key number and not the specific town. In Oct 2007 57 properties changed hands, while 92 sales occured in Oct 06. As usual, the high number is in Oct 05 when there were 162 transactions compared to 137 in Oct 2004. The high year for year to date was once again 05 with 1543 sales. If you are a seller in today’s market it may help to stop for just a moment and look at that number as it compares to today’s market and to recognize that the 396 sales as of Oct 09 represents roughly a 74% decrease in activity. Perhaps it will soften the frustration and impatience that is a common occurance when trying to sell now.

Not only were sales up this month but sales volume was up 24% from $23M in Oct 08 to $29M for Oct 09. Oct 04 had sales volume of $79M, Oct 05 was at $97M, Oct 06 – $70M and Oct 07 saw $50M in sales. Year to date sales volume for 08 was $416M with year to date Oct 09 sales of $240M, a 42% decline. Of the $29M spent this past month, $20M went towards residential sales, $649K for land and $8M was spent on condos. Keep in mind that I round number off as I do this report. Click here to see the full report please on my website.

The median sales price for residential is down substantially comparing Oct 08 and Oct 09, which was $515K in 08 and $446,500 for Oct 09. Here are the residential sales stats for Oct 08 that shows the median price:

MLS Number Location Sold Date Sold Price
210328 4982 Ohu Rd 10/1/2008 $115,000
203033 4459 Kawailoa St 10/31/2008 $320,000
205971 3140-1 Poipu Rd 10/3/2008 $338,000
205792 3530 Maka Ala St 10/23/2008 $340,000
211517 4718 Melemele Rd 10/31/2008 $350,000
213299 5261 Laipo Road 10/10/2008 $350,000
207660 302-A Makani Rd 10/28/2008 $373,000
209216 Port Allen Residential Subdiv Lot #: 10/31/2008 $380,000
213066 Port Allen Residential Subdiv Lot #: 10/1/2008 $404,000
213245 2843 Mokoi St 10/22/2008 $475,000
210864 5144 Kaunaloa St 10/1/2008 $500,000
210715 6455 Puupilo Rd #2 10/24/2008 $515,000
197225 210 Nalomeli Pl 10/31/2008 $525,000
198693 6077 Kolopua St 10/1/2008 $525,000
213843 2177 Puu Rd 10/15/2008 $641,000
187788 3550 Horita Rd 10/30/2008 $643,000
211912 5061 Aliomanu Road, Apt B 10/15/2008 $680,000
208005 3646 Keoniana Rd 10/8/2008 $760,000
212592 4369 Kai Ikena Dr 10/1/2008 $804,625
209424 1228 Nohea St 10/17/2008 $830,000
203972 2474 Apapane St 10/10/2008 $850,000
212757 4844-A Wailapa Rd #A 10/30/2008 $1,050,000
207294 5164-K Kahiliholo Rd. #1 10/24/2008 $1,147,500

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Here are the sales for Oct 09 showing the median of $446,500:

MLS Data
MLS Number Location Sold Date Sold Price
214192 4574 Puuwai Rd #B 10/7/2009 $299,000
222276 295 Molo St 10/19/2009 $309,000
228461 5679 Ani St 10/13/2009 $310,000
226512 5625 Kula Mau’u St 10/20/2009 $361,000
222904 2460 Kolo Rd 10/15/2009 $366,200
226020 6381 Puupilo Rd 10/20/2009 $366,600
218815 233 Keokeo Rd 10/30/2009 $370,000
220502 4437 Iona Rd #2 10/20/2009 $387,500
222896 4119 Aheahe Pl 10/2/2009 $396,000
226761 5796 Noni St 10/26/2009 $399,900
226605 2317 Lapuuna Pl 10/15/2009 $400,000
205541 4230 Papalina Rd #B 10/12/2009 $407,000
222319 189 Lanialii Pl #1 10/16/2009 $410,000
218894 3936 Waha Rd #2 10/2/2009 $425,000
224620 6420 Kawaihau Rd #2 10/1/2009 $430,000
223496 2891-B Pua Nani St #2 10/20/2009 $440,000
223366 3995 Kamehameha Rd 10/9/2009 $453,000
224497 2684 Onu Pl 10/22/2009 $460,000
210846 3590 Kaloke Rd 10/19/2009 $500,000
223822 3695 Kaweonui Rd 10/26/2009 $575,000
209531 05-7242-A Kuhio Hwy 10/12/2009 $590,000
215681 Ahakea St 10/13/2009 $600,000
224685 4437 Makoi Pl 10/21/2009 $610,000
222919 4959 Emmalani Dr 10/1/2009 $642,000
228934 4467 Ikena Pl 10/30/2009 $675,000
228217 Kalaheo Homesteads Lot #: 10/5/2009 $695,000
194104 4473 Keaka Rd 10/19/2009 $840,000
217604 3576-A Moloaa Rd #2 10/27/2009 $1,125,000
225870 4351 Kahili Makai St #4 10/19/2009 $1,176,000
228641 1605 Makanui Rd #A 10/21/2009 $1,450,000
218359 8948 Kaumualii Hwy #D 10/30/2009 $1,500,000
222175 4786 Aliomanu Rd 10/9/2009 $2,395,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Years past saw a residential median sales price of $650K in Oct 07, $675K in Oct 06, $675K in Oct 05 and $567,500 in Oct 04. Year to date residential median sales price for Oct 04 was $485K, 05 was $640K, 06 was $679,500, 07 was $660K, 2008 was $625K and year to date Oct 09 has a residential median sales price of $470K.

Statistically, it’s still a great time to buy with both favorable pricing and financing available, not to mention the home buyer’s credit which is now available both for first time buyers and existing home owners. There’s also plenty of inventory which makes for a great buyer’s market all around.

Aloha Elaine

Bora Bora Sunset

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge – Princeville Resort Office
Certified Residential Specialist
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: http://blogs.alohaliving.com/princeville-condo-sales/

……you can have your own piece of paradise
ask me how!

September 2009 Market Statistics

Elaine Schaefer — Sat, 10 Oct 2009 02:51:07 +0000

September 2009 followed in line with the rest of the year with declining numbers and pricing. This past month there were a total of 40 sales down from 42 in Sep 08, 65 sales in Sep 07, 97 in 06, an unbelievable 201 for Sep 05 ( I can’t even fathom that right now – in this market) and 117 sales transactions in Sep 04. Year to date there have been 346 sales compared to 473 this time last year, 745 year to date 07, 1257 in 06, a high of 1381 in 05 and 1285 for 04 year to date.

Of the sales this September, 16 were residential, 10 land, 1 commercial, and 13 were condos. Year to date there were 169 residential sales, 58 land, 5 commercial, 113 condos and 1 business. Compare this to 2008 year to date where there were 227 residential sales, 94 land sales, 7 commercial 144 condos and 1 business.

As you might expect, sales volume is also down with $21.2M sold in Sep 09, $28.6 sold in Sep 08, $56.9M in Sep 07, $77.6M for Sep 06, $128.5M in Sep 05 and $61.6M for Sep 04. Year to date sales volume is at $210.8M for 09, $393.3M year to date 08, $643.4 year to date 07, $846.9 for year to date 06, $934.4M year to date at the height of the market which was 05 and $714.6M for year to date 04. My, how times have changed. I really enjoy looking at these numbers as they certainly tell the story as to how things are now.

Median sales price is up a tick this month in residential going from $525K in Sep 08 to $532K for Sep 09. Land fell from $436K in Sep 08 to $256K Sep 08, with condos going from $495K in Sep 08 to $337K in Sep 09. Despite the slow market, clearly it is an excellent time to buy with pricing at record lows and interest rates at a similar point. Don’t let a great opportunity pass you by if you are “in the market.”

While I’m on the topic of statistics, I thought I’d throw in a few regarding the real estate agents. We have approximately 480 agents give or take a few. Of those agents, per MLS sales statistics, only 243 have sold anything at all. I’m delighted to say that on this list I come in at number 24. Thank you to all of you who made this possible for me by allowing me to represent you either in the sale or purchase of Kauai real estate. It is much appreciated and I hope I can continue to serve those of you looking for your own piece of paradise. If you wish to see the monthly statistics report in its entirety, I post it on my website under market statistics.

Aloha Elaine

View from Pu’u Po’a 404

……you can have your own piece of paradise
ask me how!

July 2009 Market Statistics

Elaine Schaefer — Tue, 18 Aug 2009 23:59:07 +0000

Aloha,

Welcome to the July Market Statistics update. Real estate continues to lag as we head into the last month of summer, which hasn’t turned into the hot market everyone hoped for. For the month of July 09, there was an 18% decrease over sales compared to July 2008, down from 60 to 49, and a 32% decline year to date, from 389 at this time in July 08 to 262 in 09. Comparing these totals to years past, July 07 had 83 sales, 06 = 96 sales, 05=167 sales and 04=154 sales.

The majority of the sales were residential in nature, with 27 homes sold, 6 land sales, 1 commercial sale and 15 condos. This is a list of all the homes that sold this past month:

MLS Data
MLS Number Location Sold Date Sold Price
220533 4912 Aliali Rd #3 7/31/2009 $172,500
214504 8093 Amakihi Pl 7/23/2009 $310,000
221770 4614 Palila Loop 7/30/2009 $340,000
224385 4752 Menehune Rd 7/6/2009 $350,000
213090 4875 Aliali Rd 7/27/2009 $365,000
199693 3280 Hailima Rd 7/15/2009 $375,000
219633 6137 Kolopua St #1 7/31/2009 $378,000
223867 5047 Kula Rd 7/31/2009 $379,000
223808 7743 Ulili Rd 7/27/2009 $392,500
214276 577 Aewa St 7/10/2009 $405,000
210078 3787 Nanakai Rd 7/21/2009 $410,000
222284 4573 Kuilei St 7/20/2009 $450,000
208667 Moloaa & Kaapuna Hui Lands Lot #:J 7/23/2009 $530,000
215901 4460 Puhi Rd 7/8/2009 $545,000
224917 3979 Pai St 7/31/2009 $620,000
223680 4320 Kalaheo Dr 7/17/2009 $680,000
221094 4901 Wailapa Rd #A 7/1/2009 $725,000
220690 5729 Noni St 7/31/2009 $778,000
217823 6440-J Kipapa Rd #A 7/22/2009 $808,000
212776 2829 Milo Hae Loop 7/24/2009 $1,100,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

The greatest activity was in the Hanalei zone which saw 8 residentail sales, 3 land sales and 3 condo sales. Close behind Hanalei was the Koloa zone with 7 residential sales, 1 land sale, and 5 condo sales

Sales volume was down substantially, from $48M to $25M comparing July 08 to 09 which represents a 46% decrease. Year to date for July 08 showed sales of $330M while July 09 year to date only posted $168M in sales for a 49% decline. Compared to past years, July 07 posted $70M, 06=$60M, 05=$113M and 04=$131M. Spread among the various catagories of real estate, there was $14M of residential property that changed hands in July 09, $2.8M of land, $350K was commercial and $8M was spent on condos.

Median price for residential in July 09 compared to 08 went to $450K from $575K. For July 07 the median price was $678K, 06 was $745K, 05=$690K and 04 was at $485K. Land median price for July 09 was $296K compared to $514K in 08. Land median prices for the past few years were as follows: July 07=$536K, 06=$446K, 05=$589K and 04 was $602K. Condominiums saw a rise this July 09 with a median price of $525K compared to $435K in July 08, $575K in July 07, $477K in July 06, $440 in July 05 and $370K in July 04.

Here are the condo sales for July 09 which shows the $525K median price:

MLS Data
MLS Number Location Sold Date Sold Price
224555 Kauai Beach Resort #4206 7/30/2009 $94,100
223538 Kauai Beach Resort #2522 7/8/2009 $99,000
221064 Halelani Village At Puhi Ph I #A201 7/30/2009 $165,000
221121 Princeville Paniolo #103 7/20/2009 $184,900
191109 Kauai Beach Villas #G3 7/1/2009 $375,000
218983 Pono Kai #C209 7/24/2009 $380,000
226176 Villas At Puali #82 7/27/2009 $400,000
220809 Regency At Poipu Kai #414 7/30/2009 $525,000
221524 Waipouli Beach Resort #C401 7/17/2009 $535,000
226288 Regency At Poipu Kai #120 7/29/2009 $600,000
223314 Villas Of Kamalii #44 7/13/2009 $600,000
222144 Kiahuna Ph Ii #165 7/15/2009 $675,000
206901 Poipu Sands #428 7/20/2009 $800,000
222524 Puu Poa #411 7/7/2009 $1,300,000
206968 Honu Kai Villas #4 7/10/2009 $1,625,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Here are the July 08 condo sales showing the mid point median price of $435K:
Copyright 8/18/2009 by Hawaii Information Service

MLS Data
MLS Number Location Sold Date Sold Price
210506 Islander On The Beach #168 7/3/2008 $180,000
213554 Prince Kuhio #402 7/16/2008 $200,000
208994 Prince Kuhio #402 7/10/2008 $200,000
203269 Kawaihau Sports Villa #D101 7/3/2008 $225,000
205067 Plantation Hale #G1 7/29/2008 $230,000
207420 Halelani Village At Puhi Ph Ib #S202 7/15/2008 $235,000
212437 Puamana #26B 7/29/2008 $325,000
204373 Villas At Puali #24 7/16/2008 $435,000
206958 Plantation At Princeville #511 7/3/2008 $525,000
214012 Plantation At Princeville #712 7/23/2008 $529,000
202868 Alii Kai At Hanalei #1103 7/29/2008 $595,000
201078 Kiahuna Ph Ii #116 7/10/2008 $700,000
204295 Hanalei Bay Villas #4 7/14/2008 $845,000
189783 Poipu Makai #A3 7/29/2008 $900,000
197083 Hanalei Bay Resort #G32 7/30/2008 $1,350,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Here is your data for the July 07 figure of $575K:
Copyright 8/18/2009 by Hawaii Information Service

MLS Data
MLS Number Location Sold Date Sold Price
194926 Lihue Townhouse #207 7/24/2007 $215,000
159182 Plantation Hale #B3 7/20/2007 $244,000
185027 Kalapaki Villas #2503 7/11/2007 $297,000
196350 Banyan Harbor #97 7/2/2007 $335,000
189884 Kiahuna Ph Ii #80 7/27/2007 $340,000
196188 Kiahuna Ph Ii #110 7/10/2007 $372,000
188991 Koloa Garden Apartments #1 7/26/2007 $440,000
194312 Cliffs At Princeville #3108 7/18/2007 $452,000
176739 Lihue 7/18/2007 $455,000
194715 Waikomo Stream Villas #100 7/9/2007 $490,000
173420 Pono Kai #C302 7/12/2007 $490,000
176125 Kahala At Poipu Kai I #913 7/27/2007 $525,000
198314 Plantation At Princeville #922 7/11/2007 $566,815
193039 Plantation At Princeville #1411 7/6/2007 $575,000
195791 Cliffs At Princeville #7202 7/31/2007 $575,000
180726 Regency At Poipu Kai #123 7/16/2007 $639,000
195485 Kiahuna Ph Ii #139 7/27/2007 $650,000
194769 Plantation At Princeville #322 7/16/2007 $700,000
194831 Emmalani Court #524 7/3/2007 $700,000
192490 Kiahuna Ph I #28 7/10/2007 $765,000
191642 Emmalani Court #222 7/11/2007 $815,000
194159 Hanalei Bay Villas #12 7/20/2007 $925,000
193205 Villas Of Kamalii #51 7/3/2007 $975,000
189633 Hanalei Bay Resort #A11 7/6/2007 $1,695,000
152046 Kaiulani Of Princeville #31 7/16/2007 $1,822,350
152044 Kaiulani Of Princeville #29 7/31/2007 $1,825,850
152047 Kaiulani Of Princeville #32 7/6/2007 $1,903,800

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

…and for July 06:
Copyright 8/18/2009 by Hawaii Information Service

MLS Data
MLS Number Location Sold Date Sold Price
174065 Kauai Beach Resort #2411 7/13/2006 $249,000
163067 Plantation Hale #D12 7/27/2006 $275,000
177763 Kauai Beach Resort #2539 7/20/2006 $284,000
133007 Lihue 7/28/2006 $292,728
143118 Lihue 7/6/2006 $293,434
169665 Halelani Village At Puhi Ph Ib #T202 7/19/2006 $300,000
181528 Kauai Beach Resort #1326 7/20/2006 $305,000
181525 Kauai Beach Resort #2432 7/20/2006 $320,000
147245 Lihue 7/28/2006 $323,262
167619 Kiahuna Ph Iv A #230 7/13/2006 $325,000
181531 Kauai Beach Resort #3219 7/20/2006 $330,000
154012 Plantation Hale #H15 7/18/2006 $330,000
173368 Kauai Beach Resort #2440 7/7/2006 $346,000
174139 Banyan Harbor #A6 7/21/2006 $350,000
173400 Halelani Village At Puhi Ph Ic #Y206 7/25/2006 $390,000
175972 Kauai Beach Resort #2522 7/5/2006 $399,000
176140 Kauai Beach Resort #4110 7/14/2006 $405,000
151405 Regency Huleia #36 7/10/2006 $444,000
151585 Regency Huleia #39 7/21/2006 $459,000
151258 Regency Huleia #41 7/18/2006 $459,000
151457 Regency Huleia #44 7/21/2006 $459,000
173701 Lihue 7/26/2006 $473,527
176735 Lihue 7/31/2006 $477,181
181521 Kauai Beach Resort #4114 7/20/2006 $485,000
173713 Regency Huleia #25 7/14/2006 $495,000
181530 Kauai Beach Resort #4213 7/20/2006 $495,000
176144 Kauai Beach Resort #4214 7/14/2006 $495,000
172965 Kapaa Sands #21 7/11/2006 $575,000
171845 Kaha Lani #109 7/12/2006 $577,500
168382 Kahala At Poipu Kai I #123 7/25/2006 $582,000
176815 Regency Huleia #73 7/11/2006 $595,000
179629 Manualoha Ph I & Ii #1103 7/21/2006 $615,000
179234 Kiahuna Ph Ii #72 7/20/2006 $630,000
177150 Islander On The Beach #308 7/28/2006 $640,000
177652 Puamana #3A 7/14/2006 $640,000
174233 Puamana #14A 7/31/2006 $650,000
182259 Nihilani At Princeville Resort #17A 7/31/2006 $710,800
174467 Sealodge Ii #H9 7/14/2006 $745,000
174510 Poipu Kapili #19 7/12/2006 $798,000
169036 Nihi Kai Villas #510 7/18/2006 $805,000
171679 Lae Nani #121 7/14/2006 $824,000
164992 Nihi Kai Villas #521 7/20/2006 $850,000
170002 Kuhio Shores At Poipu #416 7/3/2006 $1,080,000
167603 Makahuena #III203 7/20/2006 $1,500,000
173652 Puu Poa #202 7/10/2006 $1,635,000

These are the condos that sold in July 05:
Copyright 8/18/2009 by Hawaii Information Service

MLS Data
MLS Number Location Sold Date Sold Price
152133 Kiahuna Plantation #426 7/14/2005 $159,000
151654 Kiahuna Plantation #441 7/27/2005 $179,000
153886 Kiahuna Plantation #428 7/14/2005 $185,000
152669 Kiahuna Plantation #440 7/18/2005 $189,500
145494 Kiahuna Plantation #412 7/29/2005 $190,000
107559 Kiahuna Plantation #433 7/25/2005 $190,000
152442 Islander On The Beach #365 7/15/2005 $217,500
155355 Islander On The Beach #267 7/12/2005 $250,000
141033 Islander On The Beach #365 7/18/2005 $257,500
160849 Halelani Village At Puhi Ph Ib #M202 7/26/2005 $264,000
150601 Islander On The Beach #201 7/15/2005 $265,000
155476 Islander On The Beach #219 7/11/2005 $265,000
152755 Kiahuna Ph Ii #123 7/15/2005 $270,000
150859 Kiahuna Ph Iii-b #334 7/25/2005 $275,000
154730 Paradise Court-kauai #E 7/22/2005 $275,000
157108 Halelani Village At Puhi Ph Ic #BB202 7/25/2005 $277,000
160057 Halelani Village At Puhi Ph I #D104 7/19/2005 $289,000
160252 Islander On The Beach #234 7/21/2005 $295,000
153052 Halelani Village At Puhi Ph I #L102 7/11/2005 $300,000
150571 Islander On The Beach #362 7/20/2005 $300,000
156820 Plantation Hale #B2 7/19/2005 $305,000
152355 Islander On The Beach #209 7/11/2005 $310,000
150599 Islander On The Beach #260 7/11/2005 $310,000
156148 Islander On The Beach #259 7/11/2005 $310,000
159764 Islander On The Beach #227 7/14/2005 $325,000
159762 Islander On The Beach #153 7/14/2005 $325,000
148191 Banyan Harbor #72 7/7/2005 $330,000
154837 Kalapaki Villas #2610 7/27/2005 $332,500
151883 Kalapaki Villas #302 7/19/2005 $345,000
152476 Kawaihau Sports Villa #K201 7/8/2005 $345,000
152907 Prince Kuhio #233 7/1/2005 $353,000
156180 Halelani Village At Puhi Ph Ic #DD106 7/27/2005 $355,000
153591 Kawaihau Sports Villa #B101 7/15/2005 $355,000
144843 Plantation At Princeville #512 7/29/2005 $405,000
157035 Princeville Paniolo #105 7/12/2005 $415,000
144822 Plantation At Princeville #321 7/20/2005 $435,000
144824 Plantation At Princeville #322 7/26/2005 $435,000
144845 Plantation At Princeville #521 7/8/2005 $435,000
144847 Plantation At Princeville #522 7/29/2005 $435,000
154536 Princeville Paniolo #203 7/5/2005 $445,000
148337 Kamahana #29 7/13/2005 $478,000
152664 Sandpiper Village I #134 7/13/2005 $485,000
150972 Manualoha Ph I & Ii #304 7/6/2005 $509,000
155649 Sandpiper Village I #133 7/28/2005 $520,000
154199 Sandpiper Village I #220 7/15/2005 $525,000
154936 Kahala At Poipu Kai I #513 7/7/2005 $545,000
148044 Plantation At Princeville #512 7/29/2005 $545,000
159212 Cliffs At Princeville #4206 7/29/2005 $545,000
146890 Poipu Crater #28 7/20/2005 $550,000
144846 Plantation At Princeville #521 7/8/2005 $562,066
155015 Emmalani Court #413 7/25/2005 $565,000
145060 Cliffs At Princeville #4209 7/11/2005 $570,000
160720 Plantation At Princeville #322 7/26/2005 $575,000
155290 Emmalani Court #311 7/29/2005 $575,000
155291 Emmalani Court #324 7/13/2005 $575,000
149438 Regency At Poipu Kai #513 7/29/2005 $585,000
153296 Alii Kai Ii Hanalei #11B 7/5/2005 $595,000
149763 Regency At Poipu Kai #412 7/1/2005 $600,000
155293 Emmalani Court #321 7/25/2005 $620,000
151352 Wailua Bay View Apartments #204 7/21/2005 $625,000
153595 Kamahana #5 7/26/2005 $650,000
153363 Cliffs At Princeville #7201 7/27/2005 $655,000
149679 Kahala At Poipu Kai I #211 7/5/2005 $662,500
149678 Makanui #212 7/20/2005 $675,000
147546 Regency At Poipu Kai #321 7/12/2005 $700,000
149102 Makanui #211 7/9/2005 $715,000
154270 Villas Of Kamalii #24 7/7/2005 $759,000
148793 Kuhio Shores At Poipu #413 7/6/2005 $805,000
156623 Villas Of Kamalii #43 7/22/2005 $805,000
152445 Lae Nani #524 7/26/2005 $820,000
156449 Poipu Sands #233 7/16/2005 $850,000
151148 Manualoha Ph I & Ii #306 7/6/2005 $865,000
147325 Kiahuna Ph Ii #166 7/29/2005 $875,000
155171 Poipu Shores #B302 7/25/2005 $1,195,500
140049 Hanalei Bay Resort #G32 7/12/2005 $1,200,000
150321 Puu Poa #105 7/15/2005 $1,345,000
148939 Whalers Cove At Poipu #212 7/21/2005 $1,600,000
153831 Puu Poa #110 7/20/2005 $1,637,500

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

and last but not least, here are the 04 July condo sales:

MLS Data
MLS Number Location Sold Date Sold Price
122976 Kiahuna Plantation #425 7/29/2004 $127,000
136145 Lihue Townhouse #308 7/15/2004 $150,000
130912 Kiahuna Ph Ii #94 7/16/2004 $184,000
139020 Banyan Harbor #79 7/2/2004 $210,000
135798 Halelani Village At Puhi Ph Ib #P103 7/2/2004 $210,000
135270 Halelani Village At Puhi Ph I #E206 7/1/2004 $210,000
135389 Plantation Hale #B1 7/26/2004 $216,000
130652 Plantation Hale #J5 7/7/2004 $218,000
137077 Halelani Village At Puhi Ph Ib #R202 7/13/2004 $220,000
139249 Banyan Harbor #72 7/7/2004 $225,000
135749 Halelani Village At Puhi Ph I #J101 7/29/2004 $225,000
122697 Kiahuna Ph Ii #52 7/14/2004 $228,000
136607 Halelani Village At Puhi Ph Ib #T106 7/20/2004 $234,000
137707 Halelani Village At Puhi Ph Ic #W106 7/20/2004 $235,000
137343 Halelani Village At Puhi Ph I #K203 7/30/2004 $245,000
136606 Halelani Village At Puhi Ph Ic #AA205 7/1/2004 $250,000
136641 Banyan Harbor #74 7/30/2004 $250,100
135224 Halelani Village At Puhi Ph Ic #Y101 7/23/2004 $265,000
135979 Kalapaki Villas #2710 7/13/2004 $270,000
141514 Kalapaki Villas #2708 7/30/2004 $277,800
136563 Sunset Kahili #206 7/20/2004 $305,000
133466 Sunset Kahili #305 7/27/2004 $319,000
137336 Halelani Village At Puhi Ph Ic #AA206 7/19/2004 $319,000
135728 Hale Malu At Puhi #39 7/1/2004 $359,000
136980 Hale Malu At Puhi #21 7/30/2004 $370,000
139677 Wailua Bay View Apartments #310 7/16/2004 $370,000
136617 Sandpiper Village I #203 7/30/2004 $370,500
136151 Kawaihau Sports Villa #K202 7/15/2004 $372,000
137507 Kiahuna Ph Iv A #220 7/29/2004 $375,000
139233 Cliffs At Princeville #4209 7/9/2004 $375,000
134519 Hale Honu #1A 7/27/2004 $384,500
136711 Wailua Bay View Apartments #303 7/16/2004 $390,000
128862 Kamahana #4 7/28/2004 $390,000
135157 Prince Kuhio #2A 7/1/2004 $399,000
134246 Hale Kahanalu #8 7/6/2004 $399,500
134062 Kiahuna Ph Ii #105 7/30/2004 $430,000
129602 Hanalei Colony Resort #C3 7/23/2004 $431,000
133336 Kahala At Poipu Kai I #111 7/14/2004 $470,000
136777 Cliffs At Princeville #5307 7/28/2004 $470,000
136506 Kiahuna Ph Ii #71 7/16/2004 $490,000
136462 Kuhio Shores At Poipu #117 7/16/2004 $511,500
135252 Makanui #422 7/2/2004 $555,000
136038 Makanui #722 7/16/2004 $565,000
135620 Lae Nani #124 7/22/2004 $575,000
139837 Lae Nani #233 7/20/2004 $625,000
133597 Villas Of Kamalii #39 7/9/2004 $630,000
129780 Poipu Kapili #39 7/14/2004 $635,000
122031 Villas Of Kamalii #33 7/21/2004 $649,000
135732 Kahala At Poipu Kai I #321 7/19/2004 $650,000
128968 Villas Of Kamalii #14 7/23/2004 $655,000
136096 Lae Nani #336 7/23/2004 $670,000
139823 Poipu Shores #A206 7/20/2004 $772,500

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

It’s always fun for me to look at the data behind the stats, especially when it comes to median price (as opposed to average price) to get a clearer picture of what actually sold.

Many buyers seem to think that with the large inventory currently on the market they can just wait and wait and wait until pricing goes down and then get “the pick of the litter” but ask any buyer in this market and they’ll tell you that is not the case. While it’s true there’s a ample inventory what is also true is that properties that have “features and benefits” as opposed to “issues” are few and far between. You would think in this market that you could take a client out and be swamped with choices; that your buyer will need time to digest all the variables of each acceptable property. Again I say No, that is NOT the case. There are plenty of properties that need help but not many buyers looking to get into a fixer situation. The moral is, if you find something you love, buy it now. Don’t wait to see if it will go down further because if it is a good property, someone else is likely to come along and snatch it out from under you. It really is worth a few extra dollars to buy something you love rather than to save a couple of thousand and be left thinking “I wish I had bought…..”

Until next market update, come back for my weekly Princeville condo update or call or email for the facts on any property Islandwide. For a copy of the July 2009 market statistics visit my website by clicking here.

Aloha Elaine

My mobile office when on the mainland.

……you can have your own piece of paradise
ask me how!

June 2009 Market Statistics

Elaine Schaefer — Thu, 09 Jul 2009 23:30:08 +0000

Aloha,

The month of June was quieter than expected with only 42 total sales for the month, down from 65 in June 08. June 2007 saw 85 sales, June 2006 133 sales, June 2005 had 170 sales (wow) while June 2004 we had 161 sales that month. Year to date for 09 we’ve had 211 sales compared to 329 this time last year. This represents a 35% decrease for the year. The year to date high was not 2005 as you might think (813 sales) but was 2006 with 974 sales. Of the 42 June 09 sales, 21 were single family homes, 5 vacant land, 1 commercial, and 15 were condos.

Sales volume was also down from $53M in June 08 to $35M in June 09. For comparison, June 07 had $75K, June 06 $81M, June 05 $119M and June 04 was at $92M. Year to date for June 08 had $282M while year to date June 09 had $141M in sales. The high sales volume for year to date was in 06 with $639M as the dollar amount.

Median sales price for residential dropped from June 08 to 09, going from $687,500 to $440,000. Land median sales price went from $830,475 in June 08 to $550,000 in June 09. Condos went from $695,000 in June 08 to $375,000 in June 09. All in all, the statistics still say it’s a good time to buy. I hope you don’t end up being one of those who says, a few years from now, “I wish I had…”

To see the June 1009 statistics in full click here to go to my website.

Until next month,

Aloha Elaine

A condo complex in Paradise: Pu’u Po’a.
Ask about the one I have listed.

……you can have your own piece of paradise
ask me how!

May 2009 Market Statistics

Elaine Schaefer — Mon, 08 Jun 2009 23:09:13 +0000

Aloha,

Welcome to your May Market Statistics for 2009. This past May there were a total of 37 sales compared to 48 in May 08. Year to date we are down 95 transactions, with 169 year to date 09 compared to 264 year to date May 08. Over the last few years, the most active May was 06 with 167 sales, followed by 151 in May 05.

Of the sales this past month, 15 were residential, 9 land and 13 were condos. 4 homes sold in the Koloa and Hanalei zones, with 3 in Lihue and 2 each in both the Waimea and Kawaihau zones. The Hanalei zone led the Island in condos sales this month with 7 transactions. As you know, the Hanalei zone goes from Kilauea to Ha’ena which includes Princeville, which has numerous condo complexes. The remaining condos were sold in the Koloa area (3) Lihue (1) and Kawaihau. (2) Of the land, 6 sales took place in the Koloa zone with 3 in Kawaihau zone.

Sales volume is also down from $37M in May 08 to $22M May 09. Year to date 08 we had sales volume of $229M compared to $106M year to date 09 which represents a 53% decrease. For May 2009 there were $13M in residential sales, $4M in land sales, and $5M in condos. May 07 posted $75M in sales volume, with $102M in May 06, $94M in May 05 and $68M in May 04. Year to date past year stats are $391M in 07, $557M in 06, $448M for year to date 05 and $334M year to date May 04.

The median sales price dropped this month for residential sales from $705K in May 08 to $600K in May 09. Here are the 15 sales that produced this median sales price. Remember, the median is the midpoint and not the average:

MLS Number Location Sold Date Sold Price

210130 3521 Wailani Rd 5/29/2009 $335,000

212954 298 Hie St 5/15/2009 $398,000

216797 3929 Hunakai St 5/14/2009 $400,000

221192 3609 Ahi Rd 5/12/2009 $449,500

215742 4610 Alawai Rd 5/27/2009 $450,000

220253 4266 Kalaheo Dr 5/7/2009 $525,000

218263 4163 Kalani Pl 5/11/2009 $598,000

216354 2364-C Hulemalu Rd #1 5/6/2009 $600,000

215324 5345 Honoiki Rd 5/13/2009 $690,000

219445 2560 Apapane St 5/20/2009 $705,000

219605 5681 Kaapuni Rd 5/20/2009 $870,000

220435 3680-B Lolo Rd #2 5/12/2009 $885,000

219659 5517 Wailaau Rd 5/11/2009 $1,024,000

222037 3531 Anini Rd 5/4/2009 $1,250,000

223673 5486 Weke Rd 5/21/2009 $3,650,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Here are the residential sales for May 2008 that show how the median sales price of $705K was
established:

MLS Number Location Sold Date Sold Price

208217 5997 Kapahi Rd 5/16/2008 $360,000

205170 7743 Ulili Rd 5/23/2008 $405,000

204694 8220 Elepaio Rd #B 5/2/2008 $425,000

203743 3-3994 Kuhio Hwy 5/30/2008 $432,000

193229 5434 Kula Mauu St 5/6/2008 $435,000

211662 4043 Hoohana St 5/21/2008 $455,000

205902 376 Kaholalele Rd 5/2/2008 $465,000

202380 6171 Koolau #1 5/23/2008 $525,000

202383 6171 Koolau #2 5/23/2008 $525,000

211907 4372 Ulua St 5/29/2008 $650,000

204152 4620 Anolani St 5/20/2008 $705,000

210683 5008 Puuwai Rd 5/30/2008 $775,000

199128 5631 Ohelo Rd 5/13/2008 $775,000

207197 7771 Koolau Rd. #1 5/23/2008 $845,000

208282 5070 Kamamalu Loop 5/15/2008 $850,000

197612 4443 Kai Ikena Dr #2 5/28/2008 $860,000

197977 4892 Cr Kaui Rd/pepelani 5/15/2008 $905,000

190069 3660 Kakela Makai Dr 5/30/2008 $925,000

204795 4742 Aliomanu Rd 5/30/2008 $1,275,000

187278 Kalalea View Drive 5/21/2008 $1,800,000

210752 5494 Weke Rd 5/1/2008 $4,200,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Land held pretty steady in May with 09 median sales price of $350K compared to a median sales price of $377,500 in May 08. Condos fell dramatically from a median of $610K in May 08 compared to $330K in May 09. Here are the sales that created the $610K median sales price:

MLS Number Location Sold Date Sold Price

188223 Halelani Village At Puhi Ph I #C206 5/27/2008 $165,000

196332 Villas Of Kamalii #42 5/15/2008 $230,000

205071 Halelani Village At Puhi Ph Ic #X103 5/23/2008 $243,000

204941 Banyan Harbor #56 5/1/2008 $305,000

209885 Prince Kuhio #137 5/30/2008 $389,000

209158 Sandpiper Village I #216 5/2/2008 $391,000

207850 Makahuena #I302 5/28/2008 $533,975

208510 Regency Huleia #47 5/12/2008 $565,000

208232 Regency Huleia #70 5/2/2008 $589,000

211188 Puamana #14D 5/30/2008 $610,000

199987 Villas Of Kamalii #35 5/30/2008 $665,000

207174 Sealodge Ii #J6 5/14/2008 $695,000

151413 Kaiulani Of Princeville #58 5/19/2008 $876,400

209316 Nihi Kai Villas #521 5/9/2008 $895,000

152054 Kaiulani Of Princeville #62 5/30/2008 $989,390

209676 Hanalei Bay Resort #J22 5/30/2008 $1,000,000

152053 Kaiulani Of Princeville #60 5/30/2008 $1,075,990

205964 Puu Poa #105 5/14/2008 $1,475,000

152075 Kaiulani Of Princeville #5 5/2/2008 $1,765,990

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Here are the stats for the 2009 May median sales price of $330K:

MLS Number Location Sold Date Sold Price

220213 Islander On The Beach #142 5/29/2009 $95,000

220211 Islander On The Beach #143 5/29/2009 $95,000

206513 Sun Village-kauai #C404 5/18/2009 $180,000

217211 Cliffs At Princeville #2109 5/29/2009 $275,000

221838 Makahuena #IIC104 5/11/2009 $305,000

219814 Kalaheo Pali Kai #61 5/11/2009 $320,000

222630 Emmalani Court #323 5/22/2009 $330,000

221489 Alii Kai At Hanalei #2201 5/6/2009 $420,000

222621 Emmalani Court #225 5/15/2009 $440,000

222697 Villas On The Prince #3 5/15/2009 $576,900

223690 Nihilani At Princeville Resort #33C 5/8/2009 $640,000

221272 Nihilani At Princeville Resort #34C 5/14/2009 $650,000

223167 Kiahuna Ph I #27 5/22/2009 $725,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Before you get all excited and think there are actually condos for sale on Kauai for $95K, I want you to know that these are hotel room conversions. In other words, you are buying a renovated hotel room with no kitchen and about 300+ square feet in a resort setting for that price. As for Sun Village at $180K, that is a leasehold development for those 55 and older only. For the complete May 2009 statistics, please click here to go to my website where they are posted. As always, I’m here for you with the facts. Just call or email.

Aloha Elaine

……you can have your own piece of paradise
ask me how!

April 2009 Market Statistics

Elaine Schaefer — Tue, 12 May 2009 02:34:30 +0000

Aloha,

For the month of April 2009, there were 45 total sales, down slightly from 49 sales this month last year. Of those sales, 23 were residential, 10 were land, and 12 were condominium sales. Year to date we have 132 sales which is slightly more than half of the 216 sales year to date for 2008. The majority of the residential sales for this April were in the Koloa zone with 13 single family residences changing hands, 2 land sales and 2 condo sales. Waimea zone saw 1 residential sale, while Kawaihau zone posted 5 residential sales, and 4 land sales. Lihue had 2 residential sales, 2 condos, and 6 condos while Hanalei zone had 2 home sales, 2 land sales and 4 condo sales. The high month for overall sales in the last few years was April 06 with 187 transactions and 674 sales year to date. It dropped sharply the next year with only 100 sales in April 07 and 355 year to date at that time.

Sales volume for April 09 is $26M down from April 08 with $38M. April 07 had $99M in sales, down from April 06 which posted $116M overall. April 05 sales volume was $118M which was up from April 04 with $79M. Year to date for the period ending April 09 indicates $85M in sales volume, down from $191M for April 08 year to date. April 07 was $315M, April 06 – $456M, April 05 – $354M and April 04 – $266M. All of these figures are year to date for the given year. For the month of April 09, there was $18M in residential sales Island wide, $3.2M in land sales and $4.8 for condos.

The median sales price for April 09 for residential is $600K, up from April 08 which was at $575K. Interestingly, year to date for April 09 indicates a median residential sales price of $479K down from year to date for 08 of $655K. Land went from a median sales price of $357K in April 08 to $260K for April 09, while condos dropped substantially from $420K in April 08 to $222K for April 09. Comparing this April to the past few years you’ll see that for April 07 residential the median sales price was $730K, 06 was $700K, 05 $600K and 04 was at $477K. Keep in mind that the median is simply the midpoint price and not an average. Here is the data for the April 09 $600K median price point. You’ll see there were 23 residential sales with the midpoint being Alohi for $600K.

Location Sold Date Sold Price

Aka Rd 4/16/2009 $120,000

2364 Liliuokalani St 4/6/2009 $369,000

4801 Lae Rd #4 4/20/2009 $379,000

Port Allen Lot #: 4/8/2009 $385,000

3296 Kanakolu St 4/29/2009 $410,000

1687 Papau St 4/22/2009 $412,000

3720 Lohe Rd 4/6/2009 $413,000

4372 Puu Kulana Pl 4/30/2009 $450,000

5855 Haaheo St 4/15/2009 $463,000

3831 Uakea Pl 4/3/2009 $500,000

2490 Kipuka St 4/13/2009 $550,000

3167 Alohi St 4/24/2009 $600,000

5931-A Kiinani Pl 4/24/2009 $600,000

5027-A Puuwai Rd #B4/24/2009 $654,000

4318 Punee Rd 4/20/2009 $655,000

1753 Kelaukia St 4/9/2009 $695,000

4922 Akai Pl 4/1/2009 $700,000

4506 Nene Rd 4/22/2009 $750,000

2432 Linaka St 4/8/2009 $800,000

Aliomanu Rd #4 4/24/2009 $925,000

3539 Moloaa Rd 4/13/2009 $1,275,000

2574 Hoonani Rd #A4/7/2009 $1,409,000

4658 Amio Rd 4/15/2009 $4,500,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

That’s your update for this month. For a full accounting of the monthly statistics, click here to go to my website where I post them every month. Until then, happy buying and selling in Paradise. By the way, the weather has been magnificent! Here is the view from my lanai. Not a cloud in sight; just blue ocean and blue skies.

Aloha Elaine

……you can have your own piece of paradise
ask me how!

March 2009 Market Statistics

Elaine Schaefer — Thu, 09 Apr 2009 18:21:24 +0000

This past month ended with a total of 40 sales, down from the 60 we saw in March 2008. Year to date sales are lagging, with only 87 reported, compared to 167 last year at this time, 255 by March 2007, 487 year to date March of 2006, 341 for year to date March 2005 and 394 for 2004. If you are in the market for a new home, be it a condo, house or land to build, and you don’t think now is a good time to buy, hopefully these statistics will convince you otherwise. Imagine how happy just about any seller would be to have one of the 40 buyers who actually came through and closed an escrow come walking into their property. If you are the buyer, now imagine how much bargaining power you have.

To continue, going back as far as 2004, the busiest March was in 2006 when 261 properties changed hands. This past month, of the 40 sales, 22 were residential, 5 were lots, 1 commercial property sold, 11 condos and 1 business sold. Of these sales, 4 were in the Waimea zone, 6 in Koloa zone, 10 were in Lihue area, 8 in the Kawaihau zone and 12 were in the Hanalei zone. There were 7 residential sales on the Hanalei zone. Take a look at the market time on some of these properties:

217182 RC S 97 4-5-1-5-40-1 FS $601,900 4540 Waiakalua St #1 2.00 ac 1,260 3/2
SOLD 3/30/2009 for $524,000 (CNV) DOM 97

197533 RC S 556 4-5-2-17-20-4 FS $1,690,000 4571-C Kahiliholo Rd #4 3.45 ac 2,380 3/3
SOLD 3/31/2009 for $1,550,000 (CNV) DOM 556

211676 RC S 274 4-5-2-22-16-4 FS $2,600,000 Kahiliholo Rd #4 3.01 ac 2,305 4/3
SOLD 3/24/2009 for $2,500,000 (CASH) DOM 274

199006 RC S 253 4-5-2-10-15-2 FS $2,995,000 05-3000 Kuhio Hwy #B 3.16 ac 1,903 3/2
SOLD 3/30/2009 for $2,000,000 (CNV) DOM 253

217017 RS S 102 4-5-4-20-25 FS $594,900 5143 Iolani Pl 10,907 sqft 2,224 3/2
SOLD 3/30/2009 for $567,000 (CNV) DOM 102

208367 RS S 321 4-5-4-17-23 FS $895,000 4890 Victoria Loop 10,678 sqft 1,780 3/3
SOLD 3/31/2009 for $795,000 (CNV) DOM 321

194409 RC S 171 4-5-8-9-52 FS $2,095,000 7304 Alealea Rd 12,138 sqft 1,740 3/2.5
SOLD 3/31/2009 for $1,700,000 (CNV) DOM 171

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

As you might expect, sales volume is also down, from $53M sold last March 08 to only $23M sold this March. The all time high for March sales volume, going back to 2004 is March 2006 which saw $177M in sales! Year to date, there have been $58M in sales compared to $153M last year this time. The highest year to date was March 2006 with $339M in sales. Islandwide, residential sales totaled $16M, land was $1.5M, commercial was $1.4M, condo’s totaled $4.2M and the business sold for $35K.

Median sales price for residential this past March was $501,500 compared to $681,450 March 2008. However, this is up from last month where the median price for residential was $400,000. March 2009 land median sales price is $265,500, compared to last month which was $217,000. March 2008 the median sales price for land was $681,450. Condos had a median sales price of $220,000 in March 2009, $290,000 in February 2009 and $677,500 in March 2008. Here are the condos that sold in March 2008:

Prince Kuhio #402 402 2 1.00 904 87 200,000 3/20/2008 $200,000

Kiahuna Plantation #442 442 1 1.00 640 39 249,000 3/25/2008 $239,500

Kiahuna Plantation #434 434 1 1.00 640 425 309,000 3/6/2008 $245,000

Kiahuna Plantation #414 414 1 1.00 640 41 319,000 3/14/2008 $280,000

Halelani Village At Puhi Ph Ic #DD101 DD101 3 2.00 980 153 360,000 3/7/2008 $320,000

Islander On The Beach #351 351 0 1.00 372 208 399,000 3/25/2008 $330,000

Kalaheo Pali Kai #57 57 3 2.00 1,205 227 479,000 3/3/2008 $380,000

Villas At Puali #92 92 3 2.50 1,392 125 535,000 3/28/2008 $485,000

Hale Moi #220 220 1 2.00 1,033 183 575,000 3/10/2008 $500,000

Kiahuna Ph Ii #73 73 1 1.00 620 155 750,000 3/24/2008 $675,000

Alii Kai Ii Hanalei #14E 14E 2 2.00 1,037 332 725,000 3/19/2008 $680,000

Lae Nani #316 316 2 2.00 1,072 19 749,000 3/10/2008 $730,000

Kuhio Shores At Poipu #410 410 2 2.00 1,059 501 999,995 3/7/2008 $850,000

Kaiulani Of Princeville #64 64 2 2.50 1,781 0 855,000 3/4/2008 $861,070

Kaiulani Of Princeville #65 65 2 2.50 1,901 0 855,000 3/4/2008 $861,160

Kaiulani Of Princeville #63 63 2 2.50 1,901 0 975,000 3/27/2008 $975,000

Waipouli Beach Resort #H203 H203 2 3.00 1,158 0 1,300,000 3/11/2008 $1,300,000

Puu Poa #305 305 2 2.00 1,352 622 2,385,000 3/20/2008 $1,535,000

Kaiulani Of Princeville #43 43 3 3.50 2,443 306 2,150,000 3/20/2008 $1,650,000

Kaiulani Of Princeville #8 8 3 3.50 2,864 0 1,950,000 3/31/2008 $1,939,420

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

If you scroll through these sales, you’ll see there were 20 sales, with the two mid-point sales prices of $675K and $680K which leads to the median price of $677,500. Here are the sales for February 2009. You’ll see there were 11 sales with the mid-point of $290K:

Islander On The Beach #167 Maui 167 0 1.00 372 255 199,500 2/24/2009 $162,000

Kawaihau Sports Villa #J201 J201 2 2.00 991 13 171,600 2/26/2009 $171,600

Islander On The Beach #126 126 0 1.00 372 67 240,000 2/27/2009 $200,000

Sun Village-kauai #A206 A206 2 1.00 747 201 252,000 2/27/2009 $215,000

Plantation Hale #F16 F16 1 1.00 633 204 299,000 2/20/2009 $238,000

Banyan Harbor #100 100 2 1.50 924 24 330,000 2/20/2009 $290,000

Emmalani Court #322 322 2 2.00 1,192 245 670,000 2/10/2009 $387,000

Villas At Puali #92 92 3 2.50 1,392 0 399,000 2/26/2009 $395,000

Hale Malu At Puhi #12 12 3 2.50 1,154 83 515,000 2/24/2009 $455,000

Nihilani At Princeville Resort #29C 29C 3 2.50 1,874 488 869,900 2/26/2009 $565,000

Pali Ke Kua Incr I,ii,iii #213B 213B 2 2.00 904 113 1,095,000 2/18/2009 $1,100,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Now take a look at March 2009 where there were also 11 sales, with a mid-point of $220K:

Kauai Beach Resort #2413 2413 0 1.00 320 9 59,000 3/25/2009 $59,000

Kauai Beach Resort #3227 3227 0 1.00 320 9 79,000 3/27/2009 $79,000

Kauai Beach Resort #3229 3229 0 1.00 320 8 79,000 3/24/2009 $79,000

Kauai Beach Resort #4111 4111 0 1.00 311 5 99,000 3/24/2009 $105,555

Halelani Village At Puhi Ph Ib #R101 R101 2 2.00 750 753 348,000 3/30/2009 $175,000

Sun Village-kauai #A104 A104 2 1.00 747 465 259,000 3/3/2009 $220,000

Poipu Crater #15 15 2 2.00 1,094 197 449,000 3/9/2009 $415,000

Emmalani Court #412 412 2 2.00 1,192 119 509,900 3/27/2009 $450,000

Nihilani At Princeville Resort #8C 8C 3 2.50 1,874 261 761,500 3/12/2009 $600,000

Villas Of Kamalii #11 11 3 3.00 1,825 15 945,000 3/13/2009 $927,000

Whalers Cove At Poipu #117 117 2 2.00 1,318 185 1,925,000 3/27/2009 $1,100,000

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Yes, those first four sales are for full ownership but it is of a condhotel conversion, which means you are basically buying a remodeled hotel room. Both the Islander and the Kauai Beach Resort sold well but we are now seeing many of the Kauai Beach Resort units on the market for substantially less than what they sold for from the developer, who I hear is heading for foreclosure on his unsold units. If you ever wanted a little place to call your own, these condhotels are an inexpensive way of doing it, although the homeowner fees of $800 to $900 a month might deter you. Keep in mind these are hotel rooms without kitchens.

The information in the above median sales price data is as follows: Name of the complex and unit, the unit number is again repeated, then there is the bedrooms, baths and condo square footage. Next is the days on the market, original price, sold date and sold price. For example,

Whalers Cove At Poipu #117 117 2 2.00 1,318 185 1,925,000 3/27/2009 $1,100,000

Whaler is the complex, unit 117, then the unit number repeated again (117) 2 bedrooms, 2 baths, 1,31,8 sqft, 185 DOM, originally listed at $1.925M, sold on 3/27 for $1.1M. If you’d like a complete copy of the March 2009 Market statistics, click here. Until next month, if you are a serious buyer, call or email for info on a local lender and take advantage of the great pricing and low interest rates. I always recommend a local lender, especially with all the changes, requirements etc buyer’s are facing now when applying for loans. Don’t add to the confusion by using a lender who doesn’t understand some of our local term (ADU, CPR, Condhotel etc) or who has no idea what you are buying. Local lender know the lay of the land, which is a huge benefit when your loan goes into underwriting.

If you are a seller, take a cold, hard look at the number of sales and decide if you are willing to set your price to attract one of these buyers. If not, be realistic and take your property off the market until conditions are more conducive to higher pricing. Don’t worry, that time is right around the corner. Once pricing starts to pick up, buyers should know that their baragaining power will be on its way out the window.

Call or email for the facts. That’s why I’m here.

Aloha Elaine

At Hanalei Bay Black Pot park on a windy day. I love the monochromatic quality of this picture.

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!

February 2009 Market Statistics

Elaine Schaefer — Tue, 10 Mar 2009 02:54:39 +0000

The month of February ended with 25 sales Island wide down from 57 in February 08 but up from January 09 that only posted 20 overall sales. Year to date we have had 45 sales compared to 107 this time last year. The high point for February was in 2004 when 130 properties changed hands.

Of the 25 sales, 11 were residential, 4 vacant land, and 10 were condos. There was 1 house sold in the Waimea zone, 3 houses and 3 lots sold in Koloa zone, 1 house, 1 lot and 3 condos sold in Lihue zone, 3 homes and 4 condos in Kawaihau and 3 houses and 3 condos in the Hanalei zone.

Sales volume decreased by 80% comparing February 08 to 09, with $54M in sales in 08 and $10M in 09. Year to date shows an overall 66% decrease between the end of February 08 and 09. Clearly, pricing is down but it also appears that it is the lower end properties that are selling. Just for fun, I pulled up all the sold transactions for February 09:

217913 T S 24 4-3-2-5-8-100 FS $330,000 Banyan Harbor #100 924 #100 2/1.5
SOLD 2/20/2009 for $290,000 (CNV) DOM 24

220490 T S 0 4-3-3-3-39-92 FS $399,000 Villas At Puali #92 1,392 #92 3/2.5
SOLD 2/26/2009 for $395,000 (PMM) DOM 0

217008 T S 83 4-3-3-3-37-12 FS $485,000 Hale Malu At Puhi #12 1,154 #12 3/2.5
SOLD 2/24/2009 for $455,000 (CNV) DOM 83

210870 T S 255 4-4-3-2-13-186 FS $148,000 Islander On The Beach #167 372 #Maui 167 0/1
SOLD 2/24/2009 for $162,000 (ASSUM) DOM 255

218530 T S 67 4-4-3-2-13-61 FS $225,000 Islander On The Beach #126 372 #126 0/1
SOLD 2/27/2009 for $200,000 (CASH) DOM 67

212327 T S 204 4-4-3-2-17-96 FS $255,000 Plantation Hale #F16 633 #F16 1/1
SOLD 2/20/2009 for $238,000 (1031, CNV) DOM 204

219941 T S 13 4-4-6-16-5-29 FS $171,600 Kawaihau Sports Villa #J201 991 #J201 2/2
SOLD 2/26/2009 for $171,600 (CASH) DOM 13

199453 T S 245 4-5-4-12-10-19 FS $480,000 Emmalani Court #322 1,192 #322 2/2
SOLD 2/10/2009 for $387,000 (CNV) DOM 245

201267 T S 488 4-5-4-5-24-87 FS $599,000 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
SOLD 2/26/2009 for $565,000 (CNV) DOM 488

214678 T S 113 4-5-4-12-5-31 FS $1,195,000 Pali Ke Kua Incr I, ii, iii #213B 904 #213B 2/2
SOLD 2/18/2009 for $1,100,000 (CASH) DOM 113

210346 LN S 0 4-2-1-1-19 FS $147,500 278 Huehu Rd 10,135 sqft
SOLD 2/18/2009 for $147,500 (CASH) DOM 0

220371 LN S 19 4-2-3-2-18-3 FS $227,500 Waha Rd #3 2.27 ac
SOLD 2/13/2009 for $225,000 (CNV) DOM 19

215889 LN S 148 4-2-3-2-18-2 FS $269,500 Waha Rd #2 1.00 ac
SOLD 2/12/2009 for $225,000 (CNV) DOM 148

218523 LN S 61 4-3-3-17-84 FS $219,000 Kauila St 10,851 sqft
SOLD 2/11/2009 for $209,000 (CASH) DOM 61

210417 RC S 180 4-1-3-8-12-18 FS $289,000 4586 Io Rd #18 4,301 sqft 702 2/1
SOLD 2/18/2009 for $279,000 (CNV) DOM 180

220061 RS S 3 4-2-3-15-114 FS $399,000 3597 Koloke Rd 9,020 sqft 1,376 3/2
SOLD 2/20/2009 for $399,000 (CASH) DOM 3

217177 RC S 7 4-2-3-11-37-1 FS $421,900 4313 Maka Rd #A 5,682 sqft 1,649 3/2
SOLD 2/27/2009 for $421,000 (CNV) DOM 7

212185 RS S 204 4-2-3-19-78 FS $450,000 3766 Lohe Rd 11,120 sqft 1,130 3/1.5
SOLD 2/19/2009 for $400,000 (CNV) DOM 204

209495 RS S 176 4-3-6-25-52 FS $599,000 2889 Kanani St 15,027 sqft 1,256 3/2
SOLD 2/13/2009 for $470,000 (CNV) DOM 176

216449 RS S 106 4-4-6-18-50 FS $260,000 5013-D Moa Rd 10,059 sqft 1,246 3/2
SOLD 2/17/2009 for $265,000 (CASH) DOM 106

217667 RS S 40 4-4-6-18-31 FS $350,000 5065 Hekili Rd 11,162 sqft 1,188 3/2
SOLD 2/9/2009 for $310,000 (CNV) DOM 40

217391 RS S 2 4-4-6-39-33 FS $357,000 1758 Mei Pl 6,013 sqft 1,032 3/2
SOLD 2/3/2009 for $357,000 (CASH) DOM 2

213287 RC S 210 4-5-1-6-23-2 FS $995,000 4313-A Kapuna Rd #B 2.57 ac 1,844 4/3
SOLD 2/6/2009 for $900,000 (CASH, CNV) DOM 210

220738 RS S 0 4-5-4-23-47 FS $610,000 3783 Moae Pl 6,124 sqft 1,678 3/2
SOLD 2/3/2009 for $610,000 (CNV) DOM 0

211760 RS S 249 4-5-4-7-8 FS $1,195,000 3928 Namakeha Loop 10,007 sqft 1,884 3/2
SOLD 2/5/2009 for $950,000 (CASH) DOM 249

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

With a few exceptions, most of the sales are of entry level properties.

This is also a drop from January 2009 which posted $24M in sales. The top producing February of recent time was February 05 which saw $73M in sales. Getting back to 09, the one house that sold in Waimea was for $279K, $1.220M was spent in the Koloa zone, $470K in Lihue zone, $932K in Kawaihau zone and $2.460K in Hanalei zone. $1.1M of the $2.450M in the Hanalei district was spent on the Bali Hai / Hanalei Bay view purchase of Pali Ke Kua 213.

The median sales price for residential for February 09 was $400K down from $760K in February 08, $601K in 07, $649K in 06, $589K in 05 and $417K for February 04. In order to clearly understand these statistics, you would have to look at what sold during that period. Since the median price is nothing more than the midpoint of all properties sold, it would appear that more low end properties (with lower prices) are being purchased at this time. Land saw a median price decline in 08 of $898K down to $217K in February 09. To see what this really meant, I pulled up all the land sales for February 08 of which there were 15:

206004 LN S 4 4-2-3-22-45 FS $290,000 Pai St 4.08 ac
SOLD 2/28/2008 for $247,000 (CASH) DOM 4

200907 LN S 83 4-2-3-22-46 FS $399,000 4041 Pai St 19,662 sqft
SOLD 2/19/2008 for $312,500 (CASH) DOM 83

208185 LN S 0 4-2-6-16-74 FS $1,330,000 Kukuiula Residential Subdivision Ph I Lot #:74 12,427 sqft
SOLD 2/29/2008 for $1,330,000 (CASH, CNV) DOM 0

207588 LN S 0 4-2-6-16-62 FS $1,525,000 Kukuiula Residential Subdivision Ph I Lot #:62 12,320 sqft
SOLD 2/14/2008 for $1,525,000 (CASH, CNV) DOM 0

191528 LN S 236 4-2-8-9-903 FS $339,000 Koloa Town Lot #: B-3 10,053 sqft
SOLD 2/1/2008 for $325,000 (CASH) DOM 236

202442 LN S 71 4-4-6-12-120 FS $320,000 Waialeale Estate Lot #:4 1.00 ac
SOLD 2/6/2008 for $295,000 (CNV) DOM 71

181943 LC S 483 4-5-2-21-2-1 FS $850,000 4410 Kahili Makai St 6.27 ac
SOLD 2/7/2008 for $700,000 (PMM) DOM 483

180154 LC S 460 4-5-2-4-80-5 FS $898,000 Seacliff 4.95 ac
SOLD 2/29/2008 for $898,000 (CNV, PMM) DOM 460

206175 LC S 0 4-5-2-12-15-3 FS $1,145,000 4141-P Kilauea Rd #3 1.46 ac
SOLD 2/29/2008 for $1,050,000 (CASH) DOM 0

186701 LC S 425 4-5-2-4-68-2 FS $2,300,000 3700 Kilauea Rd. 2.10 ac
SOLD 2/8/2008 for $1,750,000 (CASH, EXCH) DOM 425

203711 LN S 0 4-5-2-1-5 FS $3,900,000 Lot #:18 942.56 ac
SOLD 2/14/2008 for $3,500,000 (CASH) DOM 0

205076 LC S 40 4-5-3-8-22-6 FS $349,000 Kapa’ka St 1.35 ac
SOLD 2/22/2008 for $340,000 (CASH) DOM 40

198275 LN S 131 4-5-3-12-2 FS $695,000 4049 Aloalii Dr 8,641 sqft
SOLD 2/7/2008 for $675,000 (CNV) DOM 131

184965 LC S 456 4-5-3-8-22-5 FS $1,385,000 Kapa’ka 5.94 ac
SOLD 2/28/2008 for $1,100,000 (CASH) DOM 456

199487 LN S 103 4-5-8-9-49 FS $2,190,000 7322 Alealea Rd 17,451 sqft
SOLD 2/26/2008 for $1,850,000 (CASH, CNV) DOM 103

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

If you put these in order of price, you’ll see $898K is the midpoint. This is the land that sold in February 09:

210346 LN S 0 4-2-1-1-19 FS $147,500 278 Huehu Rd 10,135 sqft
SOLD 2/18/2009 for $147,500 (CASH) DOM 0

220371 LN S 19 4-2-3-2-18-3 FS $227,500 Waha Rd #3 2.27 ac
SOLD 2/13/2009 for $225,000 (CNV) DOM 19

215889 LN S 148 4-2-3-2-18-2 FS $269,500 Waha Rd #2 1.00 ac
SOLD 2/12/2009 for $225,000 (CNV) DOM 148

218523 LN S 61 4-3-3-17-84 FS $219,000 Kauila St 10,851 sqft
SOLD 2/11/2009 for $209,000 (CASH) DOM 61

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

I am going to have to call Hawaii Information System (the company that manages our MLS) to find out how they arrived $217K as the median price for land. Sometimes, when there is an even number of sales, I’ve noticed that they take the two midpoint properties and average that number but I’m not seeing that in this case. More on this later.

Condo median price in February 08 was $565K and dropped to $338K in February 06. For a complete list of of the market statistics, click here to go to my website where they are uploaded each month. Until next month, have a happy St. Paddy’s day.

Aloha Elaine

……you can have your own piece of paradise
ask me how!

January 2009 Market Statistics

Elaine Schaefer — Fri, 06 Feb 2009 02:04:21 +0000

Aloha

January Statistics are out showing a total of 20 sales this month compared to 50 in 08, 69 in 07, 121 for 06, 105 in 05 and 122 for 04. I guess that just about says it all. The majority of the sales were residential with 10 transactions, 3 for vacant land, and 7 condos. Most of the sales were in the Kawaihau district where 5 houses, 3 land parcels and 1 condo sold. There were 2 houses and 2 condos sold in the Hanalei district, 3 Lihue district condos, 2 houses and 1 condo in Koloa area and 1 house in the Waimea district. If you are not sure what areas comprise each district, please go to my website www.kauairealestatenow.com and click on RE 101 and look under “taxkey numbers, what are they and how can they help you?” There’s also a taxkey map there that shows how the whole island is divided by zone (district) section, plat and parcel.

Sales volume was at $23M down from $46M in 08, $54M for 07, $95M in 06, $67M in 05 and $56M in 04. Island wide, slightly less than $21M went towards residential sales, $560K was invested in land and $2M was used to purchase condos.

The median sales price for homes Island wide was $466K this January 09 compared to $585K in 08. 07 was the high point with a January median sales price of $799K up from $651K in 06, $492K in 05 and $379K in 04. Please keep in mind that these are median and not average sales prices, which would be a whole different number.

Land saw a big drop in median sales price, with January 09 showing $200K, compared to $855K in 08. Condos were also down to $235K in January 09 from $586K in 08. Some may look at this and think the market overall has dropped but what it is saying is that the properties that are selling throughout are simply the lower end or “starter” properties as opposed to more high end or move up properties.

Just to clarify this a bit further, I looked up the sales prices of the 10 homes that closed in Jan 09. They were as follows:

$329,000
$350,000
$360,000
$365,000
$408,569
$525,000
$862,000
$1,150,000
$3,500,000
$13,000,000

Looking at this list you can see that with 10 properties sold there is no midpoint. It appears that the MLS statistician took the two numbers that represent the midpoint, that is, $408,569 and $525,000, added them together then divided by two to arrive at the median sales price of $466,785. If you added all these together to come up with the average sales price it would be quite a different story – due to the unusually large sale of $13M your “average” would be $2,084,956. While numbers do not lie they also do not always present an accurate overall picture of what is happening.

…and if curiosity has gotten the better of you, that $13M purchase was listed at $15M and consisted of 55+ acres with a home and other “out buildings.” This is how it was described on the MLS :

“Kauai’s FINEST and most private estate located on the North Shore in the town of Kilauea is a home of beauty, quality, function and craftsmanship. A world class property nestled within a 1500 acre gated preserve, this Japanese country home is something that must be seen to be appreciated. Also included is an impeccably finished 3,136 sq ft art studio/ garage/office/gym with 2 full bathrooms. Throughout the property flows a series of beautiful water features including large natural swimming pools, rapids, and rope swings. The home, designed by Ross Anderson, is a 4 bed, 4.5 bath open design. Three large pavilions are connected by enclosed breezeways and surrounded by generous overhangs and huge decks. The cooks’ kitchen has a 6-burner Thermador gas stove and double ovens. Two Subzero Refrigerator Freezers, 2 Subzero Refrigerator drawers, Bosch dishwasher and an icemaker. The adjoining pantry/laundry has 2 sets of stacking Neptune Washer & Dryer. The living room/dining areas are all completely open to the kitchen with amazing views. Also in the main pavilion is a library and home theatre. The entire home is outfitted with top of the line custom cabinetry, high-tech lighting, and music systems. The floors throughout are a combination of wide plank Tropical Walnut and limestone. All walls are finished with Venetian plaster . The windows, doors and trim are all the finest custom Teak construction. The master wing includes a huge master bedroom, bathroom, walk-in closet, indoor/outdoor showers, and a beautiful built-in Jacuzzi spa. There is also a child’s bedroom and bathroom in this wing. There is a 100 year old hardwood forest, and over 2000 Mahogany trees that have been planted and several other swimming ponds within the compound. The property is only minutes from several world class beaches.”

It just goes to show there is money being spent at both ends of the spectrum. To see the full January 2009 report click here. Until next month….

Aloha,

Elaine

View of the pier from high above Hanalei

……you can have your own piece of paradise
ask me how!

Year End 2008 Market Statistics

Elaine Schaefer — Tue, 13 Jan 2009 00:53:19 +0000

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

……you can have your own piece of paradise
ask me how!