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Market Update
Terry Tolman, the Chief Staff Executive of the Realtors Association of Maui (RAM), is a brilliant guy. Not only does Terry do an outstanding job leading RAM, he also provides an exceptional commentary and analysis in RAM's monthly market report. Here are some of Terry's comments in July's report:
1. Strong buyer-showing activity is now evidenced in actual reported sales, with multiple offers competing for well- priced properties. (We just submitted an offer for a client last week that ended up having over 30 offers total. Yikes!)
2. Inventories have declined 13-20% over the past 12 months.
3. Many short sales and REO (bank owned) properties will need to be absorbed as sales before we can move ahead to a more normal marketplace.
4. Unrealistic Sellers continue to be ignored by the market and miss current opportunities that later become woefully apparent.
In short, Maui's Real Estate market continues to plug away. Although summer is known to be a slow time for real estate sales on Maui, things continue to happen. For example, in July there were over $70 million dollars in residential transactions and over $39 million dollars in condo sales on Maui.
We expect real estate sales will strengthen this fall and winter. If you plan on being on Maui, be sure to reach out to us. There are some wonderful deals and we'd love to have the opportunity to show them to you.
Have a wonderful week,
The Smith Team
P.S. The usability study is still being developed. Those of you who volunteered to participate, keep an eye on your inbox next week.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for August 15th, 2011
|
|
Active |
Pending |
Sold |
Change |
|
Homes |
732 (262) |
247 (24) |
833 (108) |
+4 |
|
Condos |
1016 (182) |
207 (10) |
1153 (106) |
-5 |
|
Land |
514 (110) |
24 (7) |
128 (14) |
NC |
|
Total |
2262 (554) |
478 (41) |
2114 (228) |
-1 |
|
1. The numbers in parentheses reflect the number of listings over $1M
2. Sold listings are for the previous 12 months.
3. Change is the increase or decrease in number of active listings from the previous week.
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Homes Over $1M
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8079 L. Kula Road
Kula
$2.1M (FS)
|
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Casa Blanca Upcountry. Experience the elegance and grace of this truly special Kama’aina property. Reminiscent of Vintage Hawaii, the grounds of this 3 acre estate date back to the early 1920’s. Surrounded by beautiful terraced gardens with incredible landscaping and fruit trees, the main home, built in 1992, offers many features including wood floors, custom crown molding throughout, high ceilings, three fireplaces, bathrooms for each of the 4 bedrooms and spacious lanais to enjoy the incredible bi-coastal ocean views.
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Homes Under $1M
1413 Kakae Place
Wailuku
$314.9K (FS) |
|
Bank Owned. This one won't last long. Corner property in Oceanview Estates, with both ocean and mountain views.
Customer Listing Synopsis
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159 Ulana Street
Makawao
$385K (FS)
|
|
Bank Owned. Are you looking for a place to call home? Then you need to take a look at this house and cottage in Makawao. The main house is spacious with open beam ceilings. You will enjoy preparing many meals in the large kitchen complete with granite counter tops. Cottage has great views and needs some TLC.
Customer Listing Synopsis
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125 Ku Drive
Wailuku
$410K (FS) |
|
This beautiful little home was built in simpler times. Tons of charactor, all original, with some light renovation this house could really show its stuff. Views of the north shore, Haleakala and Maui Lani golf course. Close to Wailuku Town, hospital, State and County Buildings, and in a great neighborhood. There is a cottage for additional income or the extended family.
Customer Listing Synopsis
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1260 Naalae Road
Kula
$675K (FS) |
|
Short Sale. Breathtaking bi-coastal ocean, city and West Maui Mountain views from this magnificent Kula home. Private country dirt road leads you to this peaceful & tranquil 2.38 acre estate, Spacious 3,644 sq. ft. home captures views from almost every room. Gorgeous pool area great for entertaining guests.
Customer Listing Synopsis
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72 Puu Hale Street
Ka'anapali
$999K (FS) |
|
This quality tri-level Villa offers inspiring ocean and mountain vistas with easy access to the beaches of Kaanapali. Your unobstructed views and pool side privacy are assured by the expansive greenbelt adjoining the backyard. Additional features include two spacious master suites one ground level and one encompassing the entire third level, a large fenced yard, beautiful mature tropical landscaping, tiled pool, quality oak wood flooring and oversized garage.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Makena Surf E-303
Makena
$2.2M (FS)
|
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Nearly impossible to get closer to the water in a luxury oceanfront condominium. Unstoppable ocean, beach & sunset views every day of the year.
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Vacation Condos Under $1M
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Kahana Reef #206
Kahana
$324.9K (FS)
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Bank Owned. Direct oceanfront condo.
Customer Listing Synopsis
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International Colony Club 14
Ka'anapali
$365K (FS)
|
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Bank Owned. 3 bd. 3 bath townhome with 1,484 sq. ft. of living area.
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Kapalua Golf Villas 16T2
Kapalua
$430K (FS)
|
|
Short Sale. Great views of the ocean, sunsets, and golf course from this townhouse situated on the 10th fairway of Kapalua's famed Bay Course. This popular townhouse floorplan features views from the downstairs living area and upstairs bedroom. The loft has been extended providing additional living space and privacy.
Customer Listing Synopsis
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Residential Condos
Keonekai Villages 1-101
Kihei
$149K (FS) |
|
Bank Owned. Downstairs unit with small fenced in yard in popular Keonekai Villages complex. Walking distance to Kamaole Beach Park III, restaurants, schools, and shopping.
Customer Listing Synopsis
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Kehalani Gardens #1505
Wailuku
$184.9K (FS)
|
|
Bank Owned. Great 3 bedroom 2.5 bathroom unit with private back yard in s quiet well kept townhouse community in Wailuku.
Customer Listing Synopsis
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Vacant Land
105 Keoawa Street
Kapalua
$899K (FS) |
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Lowest priced lot with incredible views across the blue Pacific to Molokai.
Customer Listing Synopsis
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