|
Aloha ,
Market Update
According to The Maui News, the number of homes sold in Maui County last month hit a five-year high with 98 single-family home sales. This was the highest volume since June 2007 when 112 homes were sold. The most single family home sales came from the Central Maui area (33 homes).
Condo sales also rose to 94 units sold last month, compared to 77 units sold in October 2011. This was a 22 % increase. The most condo sales activity came from the Kihei area (30 units).
Terry Tolman, the chief staff executive of the Realtor Association of Maui said that well-priced listings are attracting multiple offers, making for quick sales. As a result, inventories have declined by 17 percent to 20 percent over the past year.
I just recently did a market analysis for a client that owns a 1 bedroom / 2 bath unit at a popular vacation rental condo complex, Maui Banyan located in the South Kihei area. In the past 12 months, the sales ranged from $279,900 to $400,000. Now there is only one 1 bedroom / 2 bath unit on the market for $450,000.
This is a great example of a complex that has a low supply and high demand. We are definitely in a transitional market with prices heading upward due to the decreasing inventory. It is still a great time to buy due to the low interest rates, but you'll have to play to win.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. – "Restaurant Week Wailea" is now happening till November 10th. There are 18 resort restaurants participating in Wailea. Click here for more details.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for November 5th, 2012
|
|
Active
|
Pending
|
Sold
|
Change
|
|
Homes
|
494 (248)
|
239 (15)
|
910 (118)
|
+11
|
|
Condos
|
736 (156)
|
255 (14)
|
1177 (73)
|
-6 |
|
Land
|
403 (104)
|
48 (10)
|
145 (16)
|
-6
|
|
Total
|
1633 (508)
|
542 (39)
|
2233 (207)
|
-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.
|
|
Homes Over $1M
361 Pualoa Nani Place
Wailea
$1.1M (FS)
|
Original owner, never been on the market. This is a raw gem in a great location atop Maui Meadows. Spacious Frank Stiller redwood Pole home with panoramic ocean views including very unique single level entry with no stairs to living room, master bathroom, kitchen, dining area & lanais. Guest and pool area are downstairs.
|
711 Mililani Place
Kihei
$1.295M (FS)
|
Panoramic views and tranquil breezes abound from this peaceful home in idyllic South Maui. Located in the desirable Maui Meadows Neighborhood, this property is only minutes away from the world famous Wailea/Makena beaches, fine dining, and shopping. This incredible property situated on a Private 1/2 acre features 6 bedrooms and 5.5 baths with covered lanais for all day enjoyment.
|
32 N Piki Place
Ka'anapali
$1.595M (FS)
|
This beautiful 3,200 sq. ft. (approx.) home in Ka'anapali Hillside is completely turnkey. It is being sold fully furnished with high end Century furnishings including a Yamaha Player Piano and artwork. Great ocean views upstairs, privacy and large lap pool downstairs – 3 bedroom 3.5 bath.
|
Homes Under $1M
38 Lehuapueo Place
Waikapu
$269.9K (FS)
|
Bank Owned. Looking for a "project. Tax records show only 2 dwellings, but in reality it appears to have 3 units. All in bad shape.
|
1260 L. Main Street
Wailuku
$360K (FS)
|
Bank Owned. This property offers diversity with many possibilities. With 2 dwellings, 2 electric meters, 2 water meters and an entire vacant area (approx. 3,000 sq. ft.) with room for extending or parking - extraordinary.
|
569 Papau Street
Kihei
$399.9K (FS)
|
Bank Owned. 4 bedroom, 3.5 bath, ranch style home built in 1995 with a 1,564 square foot interior. Don’t be deceived by the neglected landscaping, the interior of this home is mostly remodeled and gleams with pride in ownership.
|
381 Kuualoha Street
Kahului
$400K (FS)
|
Short Sale. This Large two story home on corner lot in Greens at Maui Lani. Home requires major cosmetic work, appliances, landscaping, pest fumigation and more, but what a great large home in an ideal location.
|
650 Mililani Place
Kihei
$679K (FS)
|
Bank Owned. Charming family home on a half acre corner lot in Maui Meadows, South Kihei. Must see to appreciate the value. The original cedar plank home with hardwood floors was expanded with a two-story addition including a large family room, a bedroom, and an upstairs master suite with ocean views. Large lanais surround the home. Plenty of parking and room for a cottage.
|
Vacation Condos Over $1M
Whaler #1201
Ka'anapali
$2.995M (FS)
|
"The Penthouse" refers to the best of the rest and #1201 is exactly that. This elegantly appointed private residence offers the most commanding ocean and sunset views 365 days a year. Nestled high a top Tower I at the Whaler on Ka'anapali, this magnificent condominium is designed to meet every expectation of luxury and style.
|
Makena Surf F-302/303
Makena
$7M (FS)
|
Once in a lifetime offering! The 2 most incredible units totaling 6 bedrooms and 5.5 baths with privacy and sweeping views of the Pacific and outer islands. Sunsets for your enjoyment all year round. A rare offering of the best, incomparable in location, this top floor unit is unmatched and possibly the best at Makena Surf.
|
Vacation Condos Under $1M
Kihei Alii Kai D-106
Kihei
$280K (FS)
|
Fantastic South Kihei location, behind the Denny's shopping center, across the street from Kamaole I Beach. Complex allows for short term and long term rentals. Large lanais in this beautiful resort complex. Tennis courts on roof top over covered parking. One of the few condos in Kihei with covered parking! It also boasts tropical foliage throughout, giving a fabulous outdoor feel while walking/strolling to your unit.
|
Luana Kai C-108
Kihei
$299K (FS)
|
This unit has new stainless steel appliances. Oceanside on 4 acres. Lowest price unit at time of listing.
|
Mahana #802
Kahana
$449K (FS)
|
This is an "A" classification unit, right on the beach, with spectacular views of the ocean, outer islands, sunsets and humpback whales. New granite counter-tops in the kitchen and bath. Short sandy stroll to restaurants and shopping. The Mahana is a world class resort with an oceanfront pool, Jacuzzi, saunas, barbeques and lighted tennis courts. Seller will consider carrying financing.
|
Grand Champions #41
Wailea
$615K (FS)
|
Located on the first floor, this 2 bedroom and 2 bath corner unit features a lock-off option enabling the condo to be rented as two separate suites. The kitchen has recently been remodeled with granite counters, new cabinets and stainless steel appliances.
|
Residential Condos
Ho'olea Terrace #703
Wailuku
$253.5K (FS)
|
Developer Deal. Brand new release, building is under construction so photos are of model home. Seller incentives of up to 3% for closing costs.
|
Wailea Point #1802
Wailea
$3.799M (FS)
|
Perfectly situated at the South western corner of Wailea Point, Residence 1802 provides, direct beach access, secluded privacy and sensational ocean and coastal views of Polo Beach and the Makena coastline. Completely remodeled by Pat McCarthy in 2006, this highly upgraded 2 bedroom, 3 bath upstairs residence boasts a living area of approx. 2428 sq. ft including an upstairs lofted living area with full bath and storage areas.
|
Vacant Land
41 Ikena Kai Place
Kula
$550K (FS)
|
It's all about views on this large lot offering fabulous bi-coastal views from the west Maui mountain range, city lights from Kahului harbor and sunrise on top of Haleakala mountain. This is a vacant lot full of natural plants, gently sloped topography and with neighboring lots in excess of 5 acres.
|
|
