The 2023 Kauai real estate market saw a dramatic shift with the climbing interest rates curbing sales. The number of sales of single-family homes plummeted by nearly 40% last year with condo sales dropping by about 30%. The higher interest rates has helped stabilize prices as the median price for both homes and condos has stayed relatively the same as 2022. The interest rates also cut the sales volume of single family homes in half as 2022 saw nearly a billion dollars in sales while 2023 saw less than $500 million.

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The interests rates are still high as we start the new year, but we have seen them either stabilized or dropping over the past few weeks. We may see more properties hit the market if interest rates continue to decline. Are you ready to act? Contact us today at (808) 742-7110 for assistance with your Kauai real estate and Kauai property management needs.

‍Taba Realty & Development, LLC is a full service Kauai real estate company that offers assistance with buying and selling Kauai real estate and also assisting owners with their Kauai property management needs. Contact us at (808) 742-7110 should you have any questions in regards to our services. You will discover why Taba Realty is the premium choice for all your Kauai real estate and Kauai property management needs.