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Market Update
Last week we looked at single family home sales on Maui in January 2010 and compared those numbers to January 2011. This week we decided to do the same comparison for Maui condo sales. Here's what we found:
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January 2010 |
January 2011 |
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Number of condos sold |
75 |
87 |
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Median sales price |
$404,000 |
$295,000 |
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Total sales volume |
$39,581,010 |
$36,830,525 |
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Average days on market |
337 |
264 |
The median sales price of condos selling on Maui took a considerable decrease. Average days on market also saw a nice decrease. One statistic not mentioned in the graph above is REO (bank owned condo sales). In January 2010, eight condos were bank owned sales. That number tripled in January 2011 to 24 bank owned condo sales. There's no doubt about it, REO's and short sales make up a considerable percentage of the Maui real estate market.
Have a great week!
Mahalo Nui Loa,
The Smith Team
P.S. If you are interested in bank owned or short sales properties, Please check out this E-letter from our friends at Title Guaranty.
P.S.S. Create a 'Date Night' for this Saturday night, February 12th 'Intimate with Anuhea' at the MACC!
February 12, 2011 • 7:30 P.M • MACC Box office 242-SHOW (7469)
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for February 7th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
799 (320) |
249 (23) |
816 (95) |
-2 |
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Condos |
1239 (233) |
242 (20) |
1159 (158) |
-7 |
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Land |
544 (129) |
30 (9) |
123 (14) |
+4 |
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Total |
2572 (682) |
521 (52) |
2098 (267) |
-5 |
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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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168 Ikea Moku Place
Wailea
$2.15M (FS)
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Beyond the dramatic entryway of this Wailea Kialoa residence you are immediately awestruck by the vast living areas of this substantially magnificent home. With over 6,000 sq. ft. under roof, this 3 bedroom, 3.5 bath home is grandeur in every way with its cathedral ceilings, en-suite bedrooms, and over 1,200 sq. ft. of covered lanais. The luxurious upper level of this residence boasts 2 master suites with his & hers walk-in closets, private sitting areas and large bathrooms.
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Homes Under $1M
192 Kapuahi Street
Makawao
$427.5K (FS) |
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Bank Owned. Large house and cottage on over 1/2 acre lot.
Customer Listing Synopsis
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160 Alanuilili Place
Kula
$539K (FS) |
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Bank Owned. This house and studio cottage has ocean views and a spacious decks for outdoor entertainment.
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101 Kamalei Circle
Kahului
$849K (FS)
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This stellar designed custom home with a heated pool, adjoins the 13th hole of The Dunes at Maui Lani Golf Course. Capture the silhouette of one of the romantic cruise ships in the harbor from the expansive upper lanai.
Customer Listing Synopsis
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894 Pulehu Road
Kula
$899K (FS)
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2 story cottage located in Lower Kula is in very good shape, it has 2 bedrooms and 2 bathrooms. Creative usage of decks affords many opportunities to enjoy the panoramic ocean view while taking in the cool trade winds. This is a very unique property with two lots separated by a deep dry gulch that adds privacy between the vacant lot and cottage.
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Vacation Condo Over $1M
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Puamana 26-6
Lahaina
$1.998M (FS)
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Views from every room, this oceanfront, Lahaina luxury home is steps away from a perfect sun-drenched shore with tall mature palms, perfect waves and endless sunsets. This private three-story corner-unit town home offers 2 bedrooms, 3.5 bathrooms and much more.
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Vacation Condos Under $1M
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Nani Kai Hale #603
Kihei
$419K (FS)
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Welcome to the beach. Panoramic Ocean & Mountain Views from the top floor. This Beachfront property offers heated swimming pool, BBQ area, & large lawn that sits next to 5 miles of white sandy pristine beach. Enjoy long sunset strolls all the way to Maalaea, feel the trade wind breezes, listen to the surf & sounds of the ocean.
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Palms at Wailea #1405
Wailea
$979K (FS)
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One of the single best locations in the entire complex. Fabulous ocean view ground floor unit in center court. Just steps to the pool but very little pool noise.
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Residential Condos
Kehalani Gardens #104
Wailuku
$199.9K (FS) |
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Bank Owned. Great opportunity for the first time homebuyer. 2 Bedrooms, each with private bathroom. Tiled living room, big lanai, private and fenced yard.
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Villas at Kahana Ridge #312
Kahana
$217K (FS) |
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Government Owned. Great location near shopping center and beaches. On-site BBQ, pet-friendly complex, 2 assigned parking spaces.
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Wailea Point #1802
Wailea
$3.95M (FS)
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Live the Wailea luxury dream from this exquisite Wailea Point residence. 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.
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Vacant Land
3179 S Noho Loihi Way
Wailea
$438.8K (FS) |
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Motivated seller has priced this lot $140K below the assessed value for a quick sale. One of the largest lots in prestigious & gated Wailea Pualani Estates.
Customer Listing Synopsis
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