Market Update

Monday Market update

MLS stats and information from Hawaii Information Services on the morning of November 6, 2023.

Active listings (homes, land, and condos), today we have a total of 313 ⬇ (down from last week).
Of those, there are 121 ⬇ homes, 86 ⬆ condos and 106 = land listings on MLS today
In Escrow there are 172 ⬇ listings (contingent and under contract status)

Of those, there were 55 ⬇homes, 97 ⬇ condos, and 21 ⬇ land listings
SOLD/CLOSED In the past month (since October 7) a total of 57 ⬆ listings

Of those, there were 23 ⬆ residential, 23 ⬆ condo, and 11 ⬆ land listings

Listing activity update

New Listings = 85 in the past 30 days

Back on Market: 12 listings – this means they either fell out of escrow or were removed from the market for various reasons then re-released

In Escrow: 46 listings went contingent; 3 went under contract

SOLD/CLOSED: 60 listings

ADDITIONAL LISTING CHANGES

3 listings expired

18 were withdrawn

2 changed to temporarily off market

PREVIEW STATUS (aka coming soon): 4 listings

PRICE CHANGES: There were 55 price changes in the past 30 days, all of which were price reductions.

The total number of listings, also known as inventory, continues to hover just over 300. Many listings are still coming out of the gate too high for this newer market of fewer buyers. This has resulted in a high rate of price changes and longer days on the market. Despite that, the total number of sales closed in the past 30 days has trended up slightly as compared with my prior update.

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For more information about the market or for an analysis specific to a Kauai property, please contact me.

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