Q2 2024 Kauai Real Estate Market Overview
Market Snapshot: April - June 2024
The second quarter of 2024 showed continued growth across the Kauai real estate market, with notable increases in sales volume and price stability across key property segments.
📊 Key Metrics for Q2 2024
Total Sales Volume: $285.1M (Q2 2023: $249.5M)
Total Sales Transactions: 211 (Q2 2023: 192)
Median Single-Family Home Price: $1,415,000 (Q2 2023: $1,075,000)
Median Condominium Price: $814,000 (Q2 2023: $695,000)
Median Land Price: $800,000 (Q2 2023: $945,000)
📉 Year-Over-Year Market Observations
Sales Volume Increased, reflecting higher-value transactions.
Condo prices rose, indicating steady demand in the vacation rental market.
Land sales slowed slightly, with a decrease in median price compared to Q2 2023.
🏡 Single-Family Homes Market Trends
Buyer demand remained strong, particularly in the luxury and mid-tier markets.
Homes priced under $1.5M moved faster, while ultra-luxury properties saw longer days on market.
New listings helped ease inventory constraints, though demand continued to outpace supply in some areas.
🏢 Condominium Market Trends
Median condo prices climbed to $814,000, reflecting consistent buyer interest.
Certain developments saw high turnover, while others remained low in inventory.
Investment interest remained steady, with vacation rental-friendly units seeing continued demand.
🌍 Land Sales & Development Trends
Median land prices declined compared to Q2 2023, presenting potential opportunities for buyers.
New listings were limited, making well-located lots more competitive.
🔮 Outlook for Q3 2024
Looking ahead, market conditions will likely be influenced by:
Peak Summer Buying Season: More out-of-state buyers entering the market.
Inventory Levels: The availability of new listings could impact price trends.
Mortgage Rates & Affordability: Financing conditions remain a key factor for buyers.
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