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| Issue 357 | January 19th, 2010 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
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Market Update
Who is buying Maui Real Estate?
In order to answer this question, we should first look at what has been selling. Last year, there were a total of 1687 properties sold that were as reported through our MLS.
This includes Homes, Condos, Commercial, Business, Timeshares, and Land. The sales broke down as follows:
Timeshares = 40
Homes = 694
Condos = 824
Vacant Land = 109
Commercial = 19
Business = 1
Let's take a closer look at the two major categories, i.e. homes and condos.
The average sales price of condos was $719,000 with a median price of $450,000. 71 sales were REO's and 59 were Short Sales. The 3 highest sales were at The Residences of Kapalua with the highest one being $5 Million. 70% of all the sales were over $300K, and of these approximately 90% were bought as part time vacation condos.
The average sales price of homes was $715,000 with a median price of $499,000. 116 sales were REO's and 46 were Short Sales. The highest sale was $11.25 Million for a beachfront home on Keawakapu Beach in South Kihei. 93 sales were at or above $1 Million.
Probably no surprise to anyone, but our market continues to be dominated by off-Island Buyers. In future issues, we will provide a more detailed profile of who these Buyers are.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. Shortly, you will be able to search sales going back 12 months for any search criteria you might enter.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for January 18th, 2010
| Active | Pending | Sold | Change | |
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| Homes | 873 (376) | 211 (21) | 695 (95) | +10 |
| Condos | 1354 (261) | 223 (11) | 822 (141) | +35 |
| Land | 520 (153) | 40 (12) | 115 (30) | -5 |
| Total | 2747 (790) | 474 (44) | 1632 (266) | +40 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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Dramatic pole house with expansive decks matching equally expansive views. Three bedroom ensuite. Great floor plan. Excellent condition for its age. On a quiet cul-de-sac. Mature landscaping makes pool very private. |
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The Summit, ocean view gated community, origional developer model. This home offers fantastic views of the Blue Pacific, neighbor islands and year around sunsets. Beautifully furnished. |
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Short Sale. An architectural Masterpiece! This exquisite one level, 3 bedroom, 3. 5 bath home offers unparalleled 180 degree Ocean and outer island views from every part of the house. Situated on over 10 acres of tropical grandeur. Homes are designed to hug the contour of the landscape to create a sense of privacy. |
 2790 Olulani Street Pukalani $442K (FS) |
Bank Owned. Great price for a fairway frontage golf course view home. Clean in need of updating.
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 299 Awalau Road Haiku $499K (FS) |
Short Sale. Four commercial greenhouses with new sides and roof. Additional 1000 sq. ft. covered gathering / planting area adjacent to a newly framed in office and bathroom. Home is 1000 sq. ft. with garage converted into living area set on 2.07 acres.
Customer Listing Synopsis
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 5 Iris Place Kahana $549.8K (FS) |
Bank Owned. Open and spacious 4 bedroom / 2 bath single level home in Kahana Ridge. Upgrades include laminate flooring and new paint in the interior and garage.
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 429 S Alu Road Wailuku $845K (FS) |
Fabulous views from this elegant house and cottage on an oversized lot with great outdoor spaces. Light, open rooms, a covered sun porch for morning coffee or views of the ship going in and out of the harbor, and a bonus guest suite downstairs.
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Ho'olei T-1
Wailea
$1.795M (FS) |
Ho'olei offers a unique fusion of tropical beauty and luxury lifestyle awaiting you in the heart of Maui's most sought after resort area, Wailea. For those seeking the privacy of an upscale residence with the ease of a condominium, the exclusive Ho'olei in Wailea, Maui offers the utmost in modern luxuries, a stunning, natural backdrop and lavish resort amenities. |
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2 bd. 2 bath in exceptional condition with new granite counters. Walk to the beach or enjoy the pool. |
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Lowest priced one bedroom in complex. This beachfront complex is situated along the beautiful white sand beach of Keawakapu. Beachside pool pavilion is amazing with direct beach access. |
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Fabulous ocean view location at Kapalua Ridge. Fully furnished with some art exclusions. The entry to this unit is located just off the 8th fairway of The Kapalua Bay Course and the view from the living areas look out toward the Blue Pacific. |
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Bank Owned. Terrific opportunity on this ground floor 2 bd. 2 bath unit. Includes a fenced in patio and yard area. |
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 Pukalani Fairway Estates 5 Pukalani $449K (FS) |
This Pukalani Fairway Estates home is a must see. This two-story home offers an open floor plan on the upper level with dramatic 12 ft vaulted ceiling and large living area with glass doors opening out onto the deck with nice views of central Maui. Bedrooms are located downstairs.Virtual Tour |
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This email was sent to |
The Smith Team - http://mauisales.com |