Kauai real property sales for March 2022 are reflected in the graph above. 55 Kauai residential homes, 19 vacant Kauai land properties, and 52 Kauai condos were sold on the island of Kauai, totaling 126 transactions, for the month of March 2022. The Koloa district led sales with 48 transactions, followed by Kapaa with 35 transactions, followed by Hanalei with 22 transactions, followed by Lihue with 19 transactions and Waimea with 2 transactions.
See previous blog post for prior month’s statistics.
March 2022 and March 2021 monthly comparison reveals that Kauai home sales in March 2022 decreased by 19 % compared to March 2021 home sales. March 2022 Kauai land sales decreased by 21% compared to March 2021 land sales. March 2022 Kauai condo sales decreased by 10% compared to March 2021 condo sales. The continued lack of inventory is the primary cause for the continued decrease in Kauai home, land and condo sales.
On the other hand, there is no lack of people looking to buy Kauai real estate. Statistics show that it continues to be a seller’s market for Kauai properties, especially move in ready residential homes and condos. However, we do notice price reductions across the board, which tells us the frenzy in prior months which caused sellers to increase their prices, has died down a bit. In addition, the rise in interest rates will definitely affect real estate prices.