Wailua Falls, Kauai

“Has the real estate market hit bottom yet?” This is a common question that we all hear. I really like the answer I heard not to long ago. “The bottom is a historical date we do not know until it passes us up” This is very true. There is really no way to measure when the bottom hits until we start climbing back up, and then we can say there was the bottom. That being said I am seeing our market shrink.

Today, February 29th, Princeville, Kauai has 25 residential homes active and 66 condominiums. In the past few weeks we have sold many units. The least expensive home has sold and was a short-sale. The next least expensive home for sale listed at $585,000 is contingent. After these two we go to $600,00 and $619,000. Can we all see the trend? Yes, prices are going up and the less expensive homes are moving. People are starting to say “I should have bought last year when I could get a deal.”

If you have been thinking about buying real estate in Kauai, what are you waiting for? Interest rates are at all time lows.  I can’t tell the future but if I were a betting man I would put my money on the market going up in value. I am seeing and hearing an upbeat buzz among my fellow agents, so get in touch with Century 21 All Islands and let us know how we can help you find your next real estate purchase.