Kauai's real estate market continues to be a hot commodity. Even though the number of sales declined in all categories last month compared to March of 2021, the median sales price for single-family homes and land increased.
The average price for single-family homes jumped up nearly 15% compared to this time last year. While condo prices dropped roughly 15%, the median price for land skyrocketed by almost 25%. The number of homes and vacant land sold dropped by about 20% while condo sales slumped about 10%.
Interest rates continue to climb and are predicted to do so throughout the year. With low inventory still driving higher prices, it could get even harder for many buyers to break into the Kauai real estate market. What steps should you take whether buying or selling a home or renting out your property? Contact us today and we can assist you with your Kauai real estate and Kauai property management questions.
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.