In our ever changing market we certainly have seen immense changes in the prices, loans available and transactions. More than ever before, we have seen an increase in short sales and bank sales (REO/bank owned) in the past year. Below is the breakdown of sales on Kauai over the past 6 months showing the percent of short sales and bank sales in general as well as by specific property type.
Total sales in the past 6 months on Kauai = 373 (residential, condo, and land sales)
Approximately 36% of those sales were short sales, bank sales, and court confirmation sales (most likely as a result of bankruptcy/trustee)
Approximately 64% of sales were "regular" seller/owner sales
There have been 184 residential sales:
· 1 sale requiring court confirmation (most likely as a result bankruptcy/trustee)
· 28 short sales (pre-foreclosure and were subject to lenders/lien holders approvals
· 34 Bank Owned/REO property sales
· 121 "regular" sales
Essentially distressed and foreclosure properties (ie short sales, bank sales, and court confirmation sales) have been approximately 34% of total number of residential sales.
There have been 127 condo sales:
· 2 sales requiring court confirmation (most likely as a result bankruptcy/trustee)
· 25 short sales (pre-foreclosure and were subject to lenders/lien holders approvals
· 36 Bank Owned/REO property sales
· 64 "regular" sales
Essentially distressed and foreclosure properties (ie short sales, bank sales, and court confirmation sales) have been approximately 50% of total number of condo sales.
There have been 62 land sales:
· 2 short sales (pre-foreclosure and were subject to lenders/lien holders approvals
· 5 Bank Owned/REO property sales
· 55 "regular" sales
Essentially distressed and foreclosure properties (ie short sales and bank sales) have been approximately 12-13% of total number of residential sales.
Click here to access MLS stats on my website our Multiple Listing Service (MLS) Sales statistics available for download by quarter and month as well as prior year end statements. MLS Statistics include Median Sales Price, Sales Volume, and Number of Sales for the specified timeframes as well as in comparison to the prior year.
Please let me know if you have additional questions!
Mahalo, Jamie
Jamie Friedman (RA) Prudential All Star Realty
direct (808) 634-2011 fax (808) 356-1342
jamiejoy@aloha.net www.MyKauaiProperty.com
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*information, calculations, and statisticsare based on Hawaii INfomration Services MLS sales history and data from 6/20/2010 to 12/20/2010
