One of the most beneficial investments for most is a property investment. There are always a few factors that simply make it a good or a bad investment. The key element is to analyze the timing, status of the market, and value of the home, building, or property before making the final decision to invest. One constant factor is that the market is subject to change at any time, and the direction in which it goes is the factor to consider. Many buyers who are in the market for home purchasing do so with the intent of finding a home they love at a price they can afford. In addition, the numbers must add up in order to make it a safe and worthwhile investment. The same holds true for those looking to purchase commercial and industrial properties as well. The real estate market in Kauai has given investors something to think about, and it’s a relatively positive outlook in most cases.
Annual Market Growth
The real estate market in Kauai has shown stimulation in the second quarter of this year and a vast improvement over the entire island when compared to last year’s activity. Single-family homes and condo sales have increased by a margin of approximately 4%, and there is also an incline in the number of sales for vacant land of about 33%. This is a sign that people are buying with the intent to develop and there is stimulation in the economy, while it’s causing a positive surge on the housing market in Kauai.
A Monthly Comparison
It’s necessary to gage the condition of the market more often than not by conducting month-to-month or quarterly comparisons of the market. This provides a more precise perspective of the current condition of the market and how it applies to the current situation of the buyer. July 2014 recorded 35 sales of single-family homes on the island of Kauai that averaged a price of $495,000. These figures indicated a decrease of approximately 12% from the average price of the previous month but an incline in comparison to a year ago. Sales are lower in comparison to July of last year. Condo sales demonstrated a marginal increase of approximately 33% in comparison to July last year with 30 sold on the island for an average price of $378,500. Overall, sales are on a decline of approximately 14% from June and 19% from July of last year.