|
Market Update
Have you ever heard the saying "content is king?" This may be true in some respects. In real estate we believe there is another king: We call it "context." We use "context" within this context to mean market cycles.
It's no secret that real estate markets go through boom and bust cycles. Understanding market cycles is imperative to understanding real estate. If you look at the numbers they're is always a story being told. Here's a quick example from the Maui Real Estate market during the past several years:
-Year 2007: 2556 properties sold.
-Year 2008: 1792 properties sold—a nearly 30% decrease from 2007.
-Year 2009: 1626 properties sold—representing a 9.2% decrease from 2008.
-Year 2010: 2087 properties sold—an over 25% increase from 2009.
-Year 2011: ?
Will unit sales continue to climb in 2011? By the looks of it yes.
By March 31st, 2010, 494 properties had changed hands since January 1, 2010. For the same time period this year, that number has lept to 539. Prices may be off from 2007 highs, but people are recognizing value, and putting their money where their mouth is.
So the next time you hear the mainstream media preaching the sky is falling down, remember context is king.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for April 4th, 2011
|
|
Active |
Pending |
Sold |
Change |
|
Homes |
787 (306) |
255 (36) |
831 (95) |
-11 |
|
Condos |
1173 (226) |
257 (18) |
1151 (133) |
NC |
|
Land |
530 (128) |
29 (6) |
122 (14) |
-10 |
|
Total |
2490 (660) |
541 (60) |
2104 (242) |
-21 |
|
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.
|
Homes Over $1M
|
129 Oili Road
Haiku
$1M (FS)
|
|
Short Sale. Ocean view level 10 acre parcel of land offers the new owner a lot of possibilities. The main house is unique with wonderful separate guest suites. There is a cottage, barn, stable, tractor barn, and tons of storage.
|
2600 Kanakanui Road
Kihei
$1.75M (FS) |
|
This private gated compound located on .57 acres has undergone extensive renovations including a kitchen, dining room and media center expansion as well as a 700+ sq ft second level master suite with sweeping ocean and island views.
Customer Listing Synopsis
|
Homes Under $1M
22 Pokoa Place
Haiku
$246K (FS) |
|
Short Sale. An exotic, handcrafted custom home built by Mandala Eco Homes from sustainable coconut hardwood, mango & other tropical hardwoods.
Customer Listing Synopsis
|
117 Molehulehu Loop
Kahului
$384K (FS) |
|
Bank Owned. Legends at Maui Lani. Great opportunity for first time buyer or investor. Property needs very little work.
|
|
365 Alalani Street
Pukalani
$429K (FS)
|
|
Location, location with big bi-coastal views, large useable private lot. Unique homes with open beam ceilings, open floor plan, lots of light, fruit trees, plumeria lined driveway.
Customer Listing Synopsis
|
|
3955 Lepo Street
Haiku
$539.5K (FS)
|
|
Wonderfully priced home on 2 acres with ocean views. Large, expansive lawns and privacy. This charming home features cork floors, a granite kitchen counter, high ceilings, & a beautiful cedar interior.
|
Vacation Condo Over $1M
|
Residences at Kapalua 1305
Kapalua
$3.5M (FS)
|
|
These spacious units were designed with possibilities for entertainment. The orientation of this unit overlooks Kapalua Bay, ranked "America's Best Beach" and captures the sunsets year round.
|
Vacation Condos Under $1M
|
Aina Nalu I-101
Lahaina
$225K (FS)
|
|
Short Sale. Two swimming pools, hydro spa, covered lounging cabanas, pavilions w/gas fired BBQ's and all just steps to Front Street Lahaina w/shops, restaurants and beaches. This is a 2/2 designer interior w/custom Balinese furnishings, granite countertops, & on the ground floor.
|
|
Kihei Alii Kai D-108
Kihei
$250K (FS)
|
|
Bank Owned. 2 bd. 2 bath partly remodeled.
|
|
Ka'anapali Royal P-102
Ka'anapali
$429.9K (FS)
|
|
Bank Owned. 2 bd. 2 bath unit at the prestigious Ka'anapali Royal. Easy and private ground floor location & located right in the heart of the famous Ka'anapali Beach Resort close to shopping, beaches and restaurants.
|
|
Grand Champions #124
Wailea
$695K (FS)
|
|
The moment you enter you will notice the attention to detail that went into this fully remodeled and professionally designed unit. This immaculate unit boasts three full bedrooms and two baths. Upgrades galore.
|
Residential Condos
Kihei Shores E-102
Kihei
$130K (FS) |
|
Bank Owned. Desirable first floor unit. Needs TLC but is a great value. Close to everything, large square footage nice floor plan.
Customer Listing Synopsis
|
|
Wailea Palms #3703
Wailea
$625K (FS)
|
|
Unique apartment. Only one of three handicap accessible units at Wailea Palms. No stairs - lower level with ocean view from the lanai. Exceptional value. Located on the quiet, cool side of the complex.
|
Vacant Land
264 Anapuni Loop
Ka'anapali
$381.9K (FS) |
|
Bank Owned. This is a front-line .95 acre lot with golf course frontage. Property has 180 degree ocean and sunset view and this lot is priced to sell.
Customer Listing Synopsis
|
|
