In the first quarter of 2014 and compared to last year, real estate sales show significant improvements across the island. Vacant land sales clearly take the lead with a 77.42% increase in number of sales island-wide, and a dramatic 160% increase on Kauai’s north shore. The median sales price for vacant land has gone up by 10% island-wide and by 17.81% on the North Shore.
Single family home sales reflect higher sale volumes as well: on the North Shore number of sales are up by 43.75% compared to last year with a median sales price increase of 5.6%. Island-wide single family home sales grew by 7.78% with a median price increase of 7.29%.
While the number of condominium sales is up by 28.33% island-wide, it remained flat on the north shore. Median price for condominium sales is up by about 4% across the island.
The first quarter statistics and the significant increase in vacant land sales activity are clear indicators for a promising year ahead. There remains a great inventory for Buyers to choose from. How long will this last?