Through the third quarter of 2016, Kauai real estate sales show steady positive growth, yet the island’s market lacks the robustness of the other major islands in the state.
The overall island-wide closed transaction count for all property types reflects sales of just under 100 units per month. In fact, March of 2016 was the only month this year that broke through 100 closings, landing at 109. This year’s overall sales are 7.5 percent ahead of 2015.
Kauai sales volume across all property types was the strongest in March (and by a landslide) with $105,646,000 sold. A year-over-year comparison puts 2016 about 8 percent ahead of 2015. However, the third quarter slid by nearly $9,000,000 from the first-quarter high or $1,000,000 ahead of last year’s best quarter.
For properties with sales prices of $1,000,000 or more, through the third quarter, Kauai produced 131 closings. As expected, the bulk of these closings are residential, where the data shows 97 homes sold. The remaining 34 transactions split exactly down the middle between land and condos with both showing 17 closings.
Both the South and North Shores of Kauai receive attention as luxury locales and as a result, the closed residential data skews to these regions.