Kaanapali Real Estate Activity As Of October 2017
Single Family Homes
The average price of a single family home in Kaanapali is up 2.9 percent through October 2017 versus the same period in 2016. The average home price now stands at $2,000,645 versus $1,944,199 last year at this time. The median price has also risen from $1,725,000 to $1,750,000 a 1.4 percent increase year-to-date.
The number of new listings going on the market in Kaanapali have gone up 4.7 percent year-to-date with 45 single family homes going active versus 43 last year for the same period. Pending sales have gone up 4.8 percent. Closed sales are are also up by 5.6 percent year-to-date, with 19 closed transactions through October 2017 versus 18 last year at this time.
The days on market has increased 27.8 percent for 2017 versus 2016. Currently, the days on market is at 230 days or 7.6 months. As of October, there were 30 homes on the market which equates to 12.7 months supply based upon the current activity levels.
The average sales price of a condominium in Kaanapali is down 4.0 percent and the median is also down by 6.6 percent year-to-date. The average sales price is $1,077,335 and the median price is $812,500. Year-to-date, new listings have decreased 15.9 percent, pending sales have decreased 7.0 percent and closed sales have decreased 16.0 percent. Through October 2016, there were 131 closed sales; as of October 2017, there have been 110 closed sales.
Days on Market has dropped 13.0 percent year-to-date from 185 to 161 days or 5.3 months. As of October, there were 86 condos on the market which equates to 7.9 months supply based upon the current activity levels.
Land Sales October 2017 Year-To-Date
Land sales in Kaanapali are down 13.3 percent year-to-date. There were 13 land transactions in 2017 representing $8,568,000 in dollar volume versus 15 transactions in 2016 totaling $10,171,625 in dollar volume. The dollar volume dropped 15.8 percent.
The average sales price for vacant land in Kaanapali declined 2.8 percent year-to-date to $659,077 versus $678,108 in 2016. The median also declined 28.8 percent from $755,250 in 2016 to $540,000 in 2017.