The Kauai real estate market cooled off considerably with the sharp increase in interest rates and low inventory. The number of single-family home sales dropped more than 50% last month compared to June of 2021 while condo sales dropped roughly 40%. However, the average median sales price for single-family homes still jumped up nearly 40% and condo sales price increased about 25%.
With the higher interest rates, there may be less competition but without more inventory, it may take a while for prices to fall back to pre-COVID levels.
Let us help you navigate these uncertain times. Contact us at (808) 742-7110 with your Kauai real estate and Kauai property management needs.
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. Please 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 of your Kauai real estate needs.