There’s no doubt about it—2021 was a watershed year for real estate, both here on the island and across the state, the country, and even the world. But just how much are we talking when it comes to the year that was in real estate here on the Garden Isle? The final totals and tallies for the past year were recently released, and today let’s take a dive into the numbers to see if we can quantify just how big of a year was had here on Kaua’i over the past twelve months!
December’s Final Totals and the Year-End Tallies
In December, the median sales price for single-family homes hit a whipping $1.6 million, dwarfing December 2020’s median of $922,504. All in all, 66 homes ended up changing hands, which was actually slightly down from December 2020’s total of 72 homes—have we mentioned lately that the scarcity of homes for sale has been a primary driver of the housing boom as of late? Ultimately, over $122 million in total volume sales was recorded last month, over $11 million more than the year before.
Condos, meanwhile, came in at a median of $605,500, which was over $90k higher than last year at this time. Going by the same metrics as single-family homes, 60 condos were sold in December of 2021 (up from the 39 condos sold last year) for a total sales volume of $40 million, $17 million more than the comparable timeframe of 2020.
Furthermore, since the books are now officially closed on 2021, we can truly start to get a sense of just how far ahead the Kaua’i tallies for the 2021 calendar year truly were:
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Total sales volume
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Single-family homes
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2020: $680,564,259
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2021: $1,380,865,346—a 102.90% increase
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Condominiums
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2020: $208,255,148
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2021: $474,311,192—a 127.75% increase
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Vacant land
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2020: $144,884,450
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2021: $238,768,424—a 64.80% increase
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Median sales price for the year
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Single family homes
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2020: $810,000
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2021: $1,100,000—a 35.80% increase
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Condominiums
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2020: $555,000
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2021: $615,000—a 10.81% increase
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Vacant land
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2020: $571,250
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2021: $675,000—an 18.16% increase
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The numbers truly speak for themselves: 2021 was a banner year for real estate here on Kaua’i, and the early goings in 2022 show no signs of a slowdown in the forecast going forward.
January 2022 off to a strong start
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Single-family homes checked in at a median sales price of $925k this past month, whereas condos found a median of $517k. While both numbers are slightly down from January 2021’s totals,
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Over $73 million was sold in the month of January, with numbers expected to rise even further in the coming months.
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The total volume of sales for vacant land jumped a whopping 153% last month, and the median sales price in Hanalei town grew by over 48%
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