The Westernmost luxury market in the United States is recovering from a weak year in 2023. Where 2023 saw average sales prices at just $7.2M, 2024 clocks in an improvement: top properties sold at an average of a little over $11M, which represents a reversion to the average of the last years, but isn’t quite as high as valuations were in 2020, 2021 or 2022.
Kauai prices are back up from a slow year in 2023, but remain the lowest of all Hawaii markets
Sellers still struggle with a high 361 DOM
As a result, listing and realized prices are far apart at 73%, on average, the second lowest of all 56 markets in 2024
Kauai is recovering from a dip in 2023 All Hawaii luxury markets saw sales tempo and valuations cool down in 2023 and recover in 2024. Kauai has seen stronger swings than other Hawaii markets, with a bigger drawdown compared to 2021 peaks, alongside a quicker recovery in 2024. Whilst Kauai has a history of long sales cycles, 2024 transactions closed in just under 12 months. Days On Market (DOM). Compared to the US average, all Hawaii markets sell relatively slowly—the state’s average is on par with the US average, at 336 and 318 days, comparatively.
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