We get a lot of statistical data from the National Association of Realtors and this is all good food for thought but real estate markets are very local and to evaluate the Hawaiian market based on national stats is not going to serve you very well.
So how did Kauai’s neighborhoods fare over the past few years? How has the local market adjusted and what do we learn from this pin pointed information? On its own maybe not that much but when viewed in light of other data sets we can make more well informed decisions moving forward, especially when pricing a property to sell or how to negotiate a purchase. I think it was a very interesting exercise to generate this graph showing all Kauai neighborhoods and how median prices changed. While the market in general both in Hawaii and on Kauai were characterized as “down markets” I found it surprising that 25% of the local neighborhoods were still on an appreciating trajectory despite the broader analysis. In areas where there is more turnover perhaps this is a valuable pricing tool and in other areas perhaps one sale creates an anomaly that won’t offer much guidance. All I can say is a good Realtor in your corner can help!