Kauai Condo Trends

Market Overview – (Graphs Below Text)

February 2024 was a Neutral market!

For sale listings: Up 26.4% from one year earlier and down 8.2% from the previous month.
Sold listings: Decreased 16.7% year over year and increased 33.3% month over month.
Under contract listings: Down 27.9% compared to the previous month and up 29.2% compared to the previous year.
Months of Inventory based on Closed Sales: 3.4, up 54.3% from the previous year.

Property Overview

Property Types: All Condo Properties – Fee Simple –

Market Dynamics

The Average Sold Price per Square Footage was Neutral.

The February 2024 Average Sold Price per Square Footage of $922 was down 26.9% from $1,262 last month and up 22.8% from $751 in February of last year.

The Days on Market Showed Neutral Trend.

The average Days on Market (DOM) for February 2024 was 55, up 48.6% from 37 days last month and down 8.3% from 60 days in February of last year.

The Sold/Original List Price Ratio Remains Steady.

This month Sold Price vs. Original List Price of 96% was up 1.1% from last month and the same as in February of last year.
Pricing Trends

The Average For Sale Price was Appreciating.

The Average For Sale Price in February was $2,030,000, up 24.6% from $1,629,000 in February of 2023 and up 4.4% from $1,945,000 last month.

The Average Sold Price was Neutral.

The Average Sold Price in February was $1,179,000, up 47.7% from $798,000 in February of 2023 and down 22.9% from $1,530,000 last month.

The Median Sold Price was Neutral.

The Median Sold Price in February was $792,000, up 17.3% from $675,000 in February of 2023 and down 33.4% from $1,190,000 last month.

Contact Information:
Reba Roy, Corcoran Pacific Properties
Work Phone: (808) 482-9700
Email: reba.roy@corcoranpacific.com
RB-23783

Disclaimer: All reports are based on data available at the end of February 2024 and published in March 2024. Data supplied by HiCentral, RAMaui, and Hawaii Information Services MLS. Information deemed reliable but not guaranteed.