Condominium sales on Kauai plunged 60 percent in September, compared to last year, while sales of single-family homes on the Garden Isle fell 42 percent.

Prices also fell in both categories, according to statistics from Hawaii Information Service.

The median price of a single-family home on Kauai last month was $525,000, a 22 percent drop from September 2007, when it was $672,500. Year-to-date prices fared better, declining by about 4 percent to $632,500, down from $661,000 during the first nine months of 2007.

The median price of a Kauai condo in September was $495,000, down 16 percent from the same month last year, when it was $590,000. Condo prices remained flat for the first nine months of the year, with a median price of $560,000, which was the same as for the same period in 2007.

There were only eight condo units sold in September, a 60 percent drop from the 20 units sold in September 2007. Year-to-date sales were down by 40 percent, with just 144 units sold during the first nine months of the year, compared to 241 units sold during the same period in 2007.

Single-family home sales fell 42 percent in September, with just 21 Kauai houses sold compared to 36 houses sold during the same month last year. Sales for the first nine months of the year were down 33 percent, with 226 homes sold, compared to 335 homes sold during the same period in 2007.

(Source: Pacific Business News)