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Aloha ,
Market Update
As you can see from the chart below, real estate is booming throughout Hawaii. During the beginning of the year, prices increased at the fastest pace due to low inventory and interest rates.
As interest rates started to climb, so did inventory levels and prices leveled off somewhat during the latter part of the year. The consensus seems to be that interest rates will continue to rise next year as the Fed starts cutting back on their purchases of mortgages in the secondary market.
As interest rates rise, it will most likely put a damper on price appreciation, but not stop it all together. The economy is improving along with consumer confidence. There has been very strong price appreciation in residential real estate prices in Western United States and Canada, which we will almost certainly benefit from in the months to come.
We would like to wish you all a very happy, healthy, and prosperous New Year. Should you have need of our services in 2014, it would be our pleasure to serve you.
Mahalo Nui Loa,
Ken for The Smith Team
Ken, Melissa, Greg, and Jeremy
P.S. On a personal note, we are grateful to all those who gave us referrals and did business with us this last year. You helped us increase our business by 30% over 2012.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for December 31st , 2013
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Active
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Pending
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Sold
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Change
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Homes
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530 (289)
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201 (31)
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985 (163)
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-2
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Condos
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738 (180)
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203 (15)
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1352 (168)
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+10 |
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Land
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371 (119)
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36 (4)
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223 (29)
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+2
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Total
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1639 (588)
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440 (50)
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2560 (360)
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+10
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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
23 Mauds Place
Kula
$1.6M (FS)
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Known as the "Koa Wood Home" in Kula for the small fortune in**extensive** custom Koa woodwork throughout the home. Not to mention other exotic Hawaiian woods used in the doors, cabinetry and wood accents. This incredible home sits on 2.4 pristine acres with stunning ocean views in an area and altitude considered the best climate on earth. Just completed a 1,700+ sq. ft. brand new building/artist studio (County approved) right off the Highway. Perfect for an art gallery or display shop.
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891 Holopuni Road
Kula
$2.85M (FS)
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Beautiful Kula Estate on 2.11acres complete with separate guest residence. Main home, with over 4,748 sq. ft. of living area, offers 4 bedrooms and 4 baths, a large country kitchen with koa wood finishes, large master suite with fireplace and sitting room, spacious living/dining space and a completely redone lower level with a second family room and two guest suites that open to the entertaining deck, pool/spa and sauna.
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Homes Under $1M
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45 Puahau Place
Wailuku
$289.9K (FS)
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Bank Owned. Currently the layout for this structure is a 3 bedroom 3 bath not a 3 bedroom 1 bath as reflected on county records.
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46 Alohi Place
Pukalani
$565K (FS)
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Plantation charm. This nearly half acre lot has two structures on it for maximum potential of options. Have the extended family close by, get additional rent, or have extra space for the guests.
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3800 Lepo Street
Haiku
$649K (FS)
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Private 2 acres with a 3 bedroom, one bath 1,017 sq. ft. home. Gentle slope with options to build another dwelling and barn.
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182 Halona Street
Kihei
$815K (FS)
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Great location in Kihei on a quiet street with easy access to highway and beach. This home has sweeping views of ocean, Lanai, Kahoolawe & Haleakala.
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85 Hea'a'ula Place
Haiku
$997K (FS)
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2 gorgeous Park-like acres, with mature trees and plants.. This spacious, well maintained home with 5 bd. 3 baths boasts wood floors, granite countertops, vaulted ceilings, and panoramic ocean views. Located in the beautiful Windward Estates sub-division, with tree-lined streets. Home has open floor plan with views from every window.
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Vacation Condos Over $1M
Royal Mauian #209
Wailea
$1M (FS)
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This spectacular one bedroom ocean view Royal Mauian is one not to be missed. Elegant through out, designed to impress. Add the ocean views and you have a home you will be delighted with.
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Ka'anapali Shores #502
Ka'anapali
$1.795M (FS)
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2 bd. 2 bath 5th floor with a direct oceanfront location at Ka'anapali Shores. The unit boasts over 1,500 sq. ft. of interior living space and over 450 sq. ft. of covered lanai space
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Vacation Condos Under $1M
Kihei Kai Nani #144
Kihei
$305K (FS)
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This 1 bd. 1 bath condo is located in South Kihei across from the beautiful Kamaole II Beach. Situated in a nice private location in the complex. The tiled lanai leads to an open area giving a bigger sense of space to this unit and is just steps from the common BBQ area.
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Sugar Beach #517
Kihei
$525K (FS)
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Sit on your lanai and enjoy your private unobstructed view of sandy beach, ocean, and palm trees. See the West Maui mountains, Maalaea, Molokini and Wailea along with great sunsets.
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Residential Condos
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Mount Thomas #201
Wailuku
$215K (FS)
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This 2 bd. 2 bath condo has the most amazing panoramic views, and it is also Move In Ready. The unit was recently tastefully remodeled and the layout makes for very comfortable living. Mount Thomas is close to shopping, restaurants, the airport and other island amenities leaving more time to enjoy what you love to do.
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Keonekai Villages 13-108
Kihei
$230K (FS)
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This downstairs 2 bd. 1 bath corner unit in Keonekai Villages is located in the perfect location of the complex.
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Vacant Land
545 Waipulani Road
Haiku
$375K (FS)
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These 2.5 acres are a park like setting with 100 foot tall Eucalyptus trees on one side and a garden of coffee trees on the other side. Recently cleared, now you can walk the intermittent stream bed to get a vision for re-planting your fruit trees and ornamentals. There are two distinctly separate building sites, one for the main house at the intersection of Pakanu/Ulumalu/Waipulani and the other 400 feet up Waipulani.
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