Q3 2024 Kauai Real Estate Market Overview
Market Snapshot: July - September 2024
The third quarter of 2024 reflected a mix of stability and shifts in the Kauai real estate market. Sales volume increased significantly, while transaction numbers varied across different property types.
📊 Key Metrics for Q3 2024
Total Sales Volume: $313.6M (Q3 2023: $218.8M)
Total Sales Transactions: 198 (Q3 2023: 164)
Median Single-Family Home Price: $1,372,500 (Q3 2023: $1,275,000)
Median Condominium Price: $675,000 (Q3 2023: $777,500)
Median Land Price: $640,000 (Q3 2023: $837,500)
📉 Year-Over-Year Market Observations
Sales volume increased, driven by a surge in high-value property transactions.
Median home prices saw a steady rise, while condo and land prices adjusted downward.
Number of transactions increased, reflecting continued buyer activity.
🏡 Single-Family Homes Market Trends
Median price rose to $1.37M, marking a steady increase from last year.
High-end luxury home sales contributed significantly to the sales volume.
Homes in the $1M-$1.5M range saw consistent demand.
🏢 Condominium Market Trends
Condo prices decreased to $675K, reflecting adjustments in the market.
Some developments saw stronger resale activity, while others had limited new inventory.
Investor interest remained steady, but pricing shifts indicate a more balanced market.
🌍 Land Sales & Development Trends
Median land price declined to $640K, providing potential opportunities for buyers.
New developments and available parcels varied in pricing, depending on location and accessibility.
🔮 Outlook for Q4 2024
Looking ahead, market conditions will likely be influenced by:
End-of-Year Buyer Activity: Potentially more motivated transactions before the new year.
Inventory & Listings: Seasonal shifts may impact the availability of new properties.
Interest Rates & Affordability: Mortgage trends will continue to shape buyer demand.
📢 Stay Updated on the Kauai Market
Sign up for Kauai Market Alerts to stay ahead of trends!
Thinking about buying or selling? Let’s discuss the best strategy for your goals.
📞 Call Henry at 808-855-5133 for a free market consultation!