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Market Update
The results are in for how 2011 compared with 2010.
Residential home sales increased by 10 % with an average sales price of $787,552 (+5%) and a median sales price of $433,500 (-6%). 45 % of the residential sales were from bank owned properties or short sales.
Condo sales increased slightly by 1 % with an average sales price of $485,874 (-25%) and a median sales price of $310,000 (-18%). 34 % of the condo sales were from bank owned properties and short sales.
It is important to note that in 2009 - 2010, the new development, Honua Kai totaled around $488,312,327 which is one of the reasons why there was a 25 % decrease in the total dollar volume of condo sales. The total dollar volume of residential sales increased by 16 %.
There are still more bank owned properties and short sales in 2012 that need to be absorbed for us to return to a normal marketplace. We do have several bank owned properties that we have been assigned that will be listed in the near future.
Let us know what you are looking for and we'll be happy to assist you. We look forward to what 2012 will bring.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - A lot of Realtors® tell you that it is a great time to buy, but we are putting our money where our mouth is. The youngest member on our Team, Jeremy, just closed on this home and cottage in Makawao, and Greg is in escrow to purchase 5 acres in Haiku. Ken has also bought and sold 2 properties in the last 2 years on which he made a nice profit. Bottom line, The Smith Team is bullish on Maui real estate, and with our expertise we can also find you great deals.
P.S.S. In case you missed the Golf Channel's live coverage of The Hyundai Tournament of Champions over the last several days, you can go to the PGA Website. What fantastic PR for Maui with shots of the Kapalua Plantation Course from the air showing lots of sunshine, some rainbows, surfers getting tubed at Honolua Bay, and whales breaching off the coast.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for January 9th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
658 (271) |
213 (16) |
892 (118) |
+25 |
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Condos |
987 (191) |
243 (7) |
1149 (97) |
+6 |
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Land |
493 (113) |
22 (5) |
128 (17) |
-3 |
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Total |
2138 (575) |
478 (28) |
2169 (232) |
+28 |
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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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99 / 101 Oheala Place
Makawao
$2.249M (FS)
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Enjoy a glass of champagne while taking in the stunning ocean views from the lanai or deck. Yes, you will experience a noticeable feeling of Relaxation & Contentment upon entering this Bali inspired original owner / builder masterpiece set upon two plus lush tropical acres w/ verdant lawns & palms & expansive North Shore ocean & W. Maui Mountain vistas.
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877 Anapuni Loop
Ka'anapali
$3.19M (FS) |
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Elegant custom built Lanikeha villa featuring 27 foot African mahogany disappearing doors that seamlessly expand the spacious interior and magnificent Bankarai iron wood deck to create a luxurious 4,650 sq. ft. of living space w pool, spa, and breathtaking ocean vistas.
Customer Listing Synopsis
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Homes Under $1M
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243 Manini Place
Kihei
$299K (FS)
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Short Sale. This charming home, detached ohana and yard is full of banana, papaya, starfruit and avocado trees in North Kihei. Enjoy lots of outdoor lanai living space and the built-in spa.
Customer Listing Synopsis
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314 Kaeo Place
Lahaina
$479.9K (FS) |
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Bank Owned. This home and cottage is located in the middle of a small 1 block street. Home has many remodeling touches - with a new kitchen, stainless steel appliances, laminated flooring, several split AC units, large master bathroom, vaulted ceilings throughout, solar, plus a well cared for studio cottage at the back.
Customer Listing Synopsis
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190 Malamahale Place
Kula
$579K (FS) |
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Kula's best buy. Your own piece of heaven. Come take a look at this unique and beautiful property. The real gem is the 3 acres that the multiple structures sit upon and the amazing view.
Customer Listing Synopsis
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585 Kuikahi Drive
Wailuiku
$608K (FS) |
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Short Sale. Custom designed home with open beam ceilings, dramatic double door entry with beautiful Trottier artist etched windows on either side. Spectacular ocean and Haleakala views from the very top of Wailuku Heights on cul-de-sac. Ultimate privacy as home backs to forest reserve.
Customer Listing Synopsis
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105 Kahana Nui Road
Kahana
$674.9K (FS)
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Bank Owned. Come and see what the seller has done. The home has had major improvements and a price reduction.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Makena Surf G-202
Makena
$2.195M (FS)
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Great location within Makena Surf complex. 2 bedroom 2 bath beachfront unit with an open floor plan.
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Vacation Condos Under $1M
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Pacific Shores A-107
Kihei
$249K (FS)
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Short Sale. Clean ground floor unit that owner removed kitchen cabinets, appliances and hot water heater. Association just voted to allow vacation rental. Two deeded parking stalls included.
Customer Listing Synopsis
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Sugar Beach #311
Kihei
$399K (FS)
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Don't hesitate - this price to sell beachfront unit won't last. Corner unit with extra window has even more ocean view and natural light. Tastefully decorated and remodeled over the past few years: new carpets, tiled entry kitchen & bath, new cabinets w/soft close drawers in the island, stainless appliances all the comforts you want on Maui's longest walking beach.
Customer Listing Synopsis
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Royal Mauian #304
Kihei
$860K (FS)
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The lowest priced two bedroom, two bath vacation rental oceanfront in South Kihei at time of listing. This unit has been used as a second home the entire time it has been owned by present owner. Very clean and comfortable. Stunning views directly down Kamaole I Beach and to West Maui mountains over the azure blue ocean.
Customer Listing Synopsis
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Residential Condos
Hoolea Terrace #1105
Wailuku
$199K (FS) |
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Come visit our new multiple family neighborhood! Ho'ole'a Terrace is located on the slopes of the West Maui Mountains in Wailuku with beautiful ocean and mountain views. We offer a 2 bed/1.5 bath floor plan or a 3 bed/2 bath floor plan. Each building has Six 1-story units. There will be 29 buildings with a total of 174 units. Many of our units will have amazing ocean and harbor views.
Customer Listing Synopsis
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Hoonanea at Lahaina #515
Lahaina
$374K (FS)
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This home is currently under construction and is projected to be complete by March of 2012. Partial Ocean View from the Master Bedroom Suite. In the heart of Lahaina. Walking distance to the Beach, Shopping Centers, and Historic Front St. Community is Pet Friendly. This townhome has a single car garage and an additional assigned parking stall.
Customer Listing Synopsis
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Vacant Land
132 Keoneloa Street
Wailuku
$154K (FS) |
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Bank Owned. Prime residential lot in the Sandhills Estates gated community. Ocean and Mountain views.
Customer Listing Synopsis
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