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Well here is my September update. The biggest difference in the market I am noticing is the change in the inventory. Sales are continuing to trend up and the inventory is continuing to trend down. We are seeing less and less New foreclosures and short sales coming to the market. Especially on the North Shore. Below is the inventory in Princeville for single family homes (example) under $1 million dollars. As you can see there is still a fair amount but down drastically from a few months ago. Also you might have noticed no homes for sale in the $500K range. We are still seeing prices soften but the rate at which they are dropping is slowing. We are trending towards a meeting of demand and supply. Once we see the demand increase past a normal supply level then we should see prices go up. Until then, the market remains very favorable to buyers including interest rate which are near 60 yr lows. We have seen rates fluctuating between the high 3% and low 4%. Wow!!!! Combine that with low prices and for now decent amount of inventory and it really makes for a great buying opportunity.
I recently went to see Paul Brewbaker one of Bank of Hawaii’s chief economist speak of the upcoming economic forecast for Kauai and Hawaii. One of the things that really struck a cord with me was that he talked about our inventory here on Kauai. The County has capped our growth rate on the island at 1.5% a year. Which means that what we have in our current inventory of homes will not change much over the next few years. As demand increases it is going to run up against the growth limit ceiling. When that happens valuations should soar. One thing different about the Kauai residential market is that we never got over built, so we don’t have the huge influx of new construction and we don’t have a huge shadow inventory of bank owned homes. Once we get thru the current inventory of what we got, that’s it folks. I’m not saying that it is going to change overnight but its definitely time to start looking. There are some great deals out there right now. Let me know how I can help.
( Note) Entire North Shore -Homes (Fee Simple) under $600,000- only 10 homes currently on the market
Current Princeville Inventory under $1 million
| MLS DATA | ||||||||||
| MLS # | Tp | St | DOM | Taxkey | Tnr | Price | Location | Land area | Details | |
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238236 | RES | A | 386 |  4-5-3-11-38 |
FS | $927,000 | 4104 Aloalii Dr | 8,970 sqft | 2,024 3/3.00 |
| |
237287 | RES | A | 368 | 4-5-3-12-12 |
FS | $995,000 | 3985 Aloalii Dr | 8,554 sqft | 3,340 2/3.00 |
| |
238260 | RES | A | 370 | 4-5-4-23-13 |
FS | $450,000 | 4841 Moli Pl | 8,270 sqft | 1,530 3/2.00 |
| |
236176 | RES | A | 114 | 4-5-4-6-12 |
FS | $600,000 | 4154 Lei O Papa Rd | 11,369 sqft | 1,544 2/2.00 |
| |
236922 | RES | A | 427 | 4-5-4-23-70 |
FS | $625,000 | 3788 Mapuana Pl | 7,022 sqft | 1,270 #0 3/2.00 |
| |
236065 | RES | A | 417 | 4-5-4-9-18 |
FS | $649,000 | 4196 Liholiho Rd | 11,716 sqft | 1,624 #0 3/2.00 |
| |
247911 | RES | A | 1 | 4-5-4-21-21 |
FS | $695,000 | 4919 Akai Pl | 9,868 sqft | 1,952 3/2.01 |
| |
245677 | RES | A | 105 | 4-5-4-24-5 |
FS | $698,000 | 4200 Waileia Pl | 9,639 sqft | 1,928 3/2.01 |
| |
243409 | RES | A | 77 | 4-5-4-18-43 |
FS | $699,000 | 4175 Kamalani Ln | 10,499 sqft | 1,748 3/2.01 |
| |
239215 | RES | A | 319 | 4-5-4-23-50 |
FS | $724,400 | 3788 Moae Pl | 6,974 sqft | 1,699 3/2.00 |
| |
228327 | RES | A | 707 | 4-5-4-18-5 |
FS | $735,000 | 4156 Mahina Pl | 12,194 sqft | 1,668 3/2.00 |
| |
246924 | RES | A | 58 | 4-5-4-19-16 |
FS | $749,000 | 5112 Napo’okala Cir | 15,320 sqft | 2,196 3/2.01 |
| |
248271 | RES | A | 10 | 4-5-4-21-6 |
FS | $799,000 | 3730 Albert Rd | 14,367 sqft | 1,985 3/3.00 |
| |
242579 | RES | A | 218 | 4-5-4-10-17 |
FS | $827,000 | 5275 Honoiki Rd. | 10,264 sqft | 2,146 3/2.01 |
| |
244136 | RES | A | 155 | 4-5-4-13-59 |
FS | $829,000 | 3682 Keoniana Rd | 10,247 sqft | 1,676 3/2.00 |
| |
240019 | RES | A | 294 | 4-5-4-22-23 |
FS | $848,000 | 4137 Nalani Ln | 10,720 sqft | 2,499 3/3.01 |
| |
247169 | RES | A | 17 | 4-5-4-13-71 |
FS | $859,000 | 3667 Albert Rd | 11,213 sqft | 1,924 3/2.01 |
| |
244139 | RES | A | 166 | 4-5-4-20-26 |
FS | $875,000 | 5145 Iolani Pl | 10,995 sqft | 2,704 3/3.00 |
| |
240016 | RES | A | 298 | 4-5-4-9-17 |
FS | $889,000 | 4206 Liholiho Rd | 10,407 sqft | 1,668 3/2.01 |
| |
246909 | RES | A | 67 | 4-5-4-13-6 |
FS | $965,000 | 3695 Kaweonui Rd | 11,121 sqft | 2,428 4/2.00 |
| |
247094 | RES | A | 59 | 4-5-4-9-42 |
FS | $995,000 | 4184 Kekuanaoa Ln | 13,913 sqft | 2,940 3/3.01 |
| |
228196 | RES | A | 711 | 4-5-4-10-41 |
FS | $995,000 | 5322 Honoiki Rd | 10,146 sqft | 2,195 3/2.01 |
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This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed. Copyright ©9/16/2011
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