Metropolitan Statistical Area (MSA):
Kapaa, HI is a Metropolitan Statistical Area (MSA) comprising counties including Kauai County.
There is no doubt that the Kapaa, HI housing market has been on a tear lately. Home prices have been rising steadily for the past few years, and there is no end in sight. The median home price in Kapaa is now over $600,000, and there are very few homes on the market that are priced below $500,000. This trend is being driven by a number of factors, including the strong economy, low interest rates, and limited supply of available homes.
The good news for buyers is that there are still some deals to be had in Kapaa. There are a number of foreclosures and short sales on the market, and these homes can be had for significantly below market value. However, these properties are often in need of significant repairs and may not be ideal for everyone. For those who are looking for a turn-key property, they may need to be prepared to pay a premium price.
It is also important to note that Kapaa is not immune from the effects of the current housing crisis. There have been a number of foreclosures in Kapaa in recent years, and this has put downward pressure on home prices. However, it appears that prices have stabilized and begun to rebound in recent months. This trend is likely to continue as more buyers enter the market and competition for available homes increases.