LETTER FROM KBR PRESIDENT, Martie Law:
Be proud, but be humble.
Kauai Board of Realtors® is now up to 652 members, up 9.5% from 2020. Sales prices are up 53% YOY (year over year), according to HIS. Median prices touched $1,327,500 in July 2021. Thankfully interest rates on a 30 year fixed remain steady around 3.8% which means locals can still buy homes even with the rise in prices.
Now is the time to educate your entry level clients about purchasing power at low interest rates. Everyone should be talking to a lender and prepping to pounce when opportunity knocks, and it will. Patience and working with a realtor is key. Talk to them about entry level opportunities and get them dialed in to money management with the litany of resources now available. Live small, save big, and their day will come.
Many agents on Kauai will say that after the initial Covid upheaval and uncertainty that was created in March 2020, they started to feel a significant upturn in their real estate transactions right around September/October 2020. We can verify this by the jump in median prices around the same time.