September 2022 and September 2021 monthly comparison reveals that the number of Kauai home sales in September 2022 decreased by 58% compared to September 2021 home sales. September 2022 Kauai land sales decreased by 65% compared to September 2021 land sales. September 2022 Kauai condo sales decreased by 49% compared to September 2021 condo sales.
Despite the decrease in the amount of Kauai properties sold compared to last year September, it continues to be a seller’s market for Kauai properties, due to the lack of inventory and despite the increase in mortgage rates. September 2022 median prices island-wide decreased by 18% for residential properties, and increased by 135% for vacant land and .48% (less then 1 %) for condos as compared to September 2021 prices. The demand for vacant land has increased as a result of the high cost and low supply of residential homes available for sale.
Kauai real property sales for September 2022 are reflected in the graph above. 28 Kauai residential homes, 8 vacant Kauai land properties, and 25 Kauai condos were sold on the island of Kauai, totaling 61 transactions, for the month of September 2022. The Kapaa district led sales with 20 transactions, followed by Koloa with 18 transactions, followed by Hanalei with 15 transactions, followed by Lihue with 7 transactions, and Waimea with 1 transaction.