The Kauai real estate market saw a significant slump in the number of closed sales in January compared to January 2022. Single-family homes sales dropped by nearly 70% while condo sales remained relatively flat within that time frame. The median price for a home also decreased by roughly 15% while condo prices skyrocketed by about 55%.
While interest rates have stabilized in recent months, they are still high compared to about a year ago. This factor, along with still premium prices for real estate, has caused the market to adjust and we're seeing less inventory and less competition. What does this mean for the Kauai real estate market in 2023? Let us help you with all your Kauai real estate and Kauai property management needs. Contact us today at (808) 742-7110.
Taba Realty & Development, LLC is a full service Kauai real estate company that offers assistance with buying and selling Kauai real estate and also assisting owners with their Kauai property management needs. Contact us at (808) 742-7110 should you have any questions in regards to our services. You will discover why Taba Realty is the premium choice for all your Kauai real estate needs and Kauai property management needs.