Market Statistics

Found 24 blog entries about Market Statistics.

One of the most common questions we hear from clients are variations of "Is now the time to buy" or "Is now the time to sell". In general, there are a plethora of variables to take into account in order to gauge the viability of a potential sale and its benefits to the seller(s), as each case is as different as the principals conducting them. However, taking most factors into account without going into specific circumstances, for foreign nationals who are seeking to liquidate their Maui real estate, now presents a particularly strong opportunity to sell while currency exchange is favoring the USD. 

Canadians

maui real estate canadians

Due to the (relative) proximity, safety, unique culture and its incredible tropical beauty, Canadians gravitate to Maui - and their

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Today's question comes from a client who has been exploring the Wailea real estate market for some time:

Question: It seems like the Wailea condo market is really down from last year, are values going down keep up with this decrease?

Answer: Although to some the market may seem to have slowed down, year over year all the metrics that we use to measure market activity across are reflective of a micro-market. Below is a chart comparing the Jan-May timeframe of 2014 to that of the current year - the average sales price slipped slightly from $1.564M to $1.47M, while the median sales price saw a slight increase from $1.01M to $1.07M. However, a key metric worth pointing out is that sales increased by a whooping 30.2% from 43 sales to 56. Total sales

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wailea beach villas

On April 14th, two significant sales recorded worthy of note for anyone following the Maui luxury real estate market. The first is a beachfront home on Maui's famed Keawakapu Beach. The 2 bedroom / 2 bathroom cottage at 3214 South Kihei Road is in fair condition, but the $7.7M sales price is reflective of the location on one of the most sought-after locations in Hawaii. The last sale in this neighborhood was a month ago for $14.5M at 3070 South Kihei Road and was based on the larger square footage.

The other sale that recorded today that raised some eyebrows is the sale of Wailea Beach Villas G-302. Sales at the Wailea Beach Villas have been stagnant, with only 3 sales recording in the past 15 months - and with 8 units currently on the market, one

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In the past years, we have received continuous interest in Kihei Villages condos for sale - after some preliminary questions, the biggest question is whether to opt for a ground level or a 2nd floor unit. There are tangible differences, both in terms of lifestyle value proposition and fair market value. 

In the interest of providing information to our clients and site visitors, below please find charts detailing the price per square foot of every sale at Kihei Villages in the past 24 months, broken down by floor level. 

kihei villages sales chart

As noted above, there is an absolute price difference in first floor versus second floor (approx. 7.5% historically over the trailing 24 months). As a caveat to potential buyers, under the current absorption of 3.83 units sold

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The Maui real estate market continues its upwards trends with some micro-markets such as Honua Kai experiencing better than average valuation improvements, while others are still trying to catch up. As such, we are often asked 'how is the market' doing - and while there is no blanket answer to accurately describe every micro-market, there are discernible trends in that can be ascertained when analyzed in context. Is there one to be found in the South Kihei beachfront condos?

With a strong emphasis on the Kihei condo market, we diligently keep our clients informed of new inventory, closed sales, community information, etc. and through time and expertly analysis, trends become evident. There is a definitive difference (both in terms of valuation and

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The Makena Real Estate market is one of the most unique in Hawaii due to its low inventory, varied degree of potential offerings - from Makena Surf condos to large luxury estates in One Palauea Bay - and quiet splendor that appeals to world dignitaries, business magnates, and celebrities. In keeping our clients informed of micro-market conditions, we would like to announce the sale of 7421 Makena Road. 

7421 makena road

Presented by the Wailea Group, the 3 bedroom / 3.5 bathroom home was offered for sale at $8.4M, with the final sales price of $8.05M. The home was originally presented on April 18th, went under contract on May 28th, and its sale recorded today, on July 25th. With 3,922 square feet of interior living space, its sale at $2,052 per square foot

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*Update: In month of July, there were 19 REO's (foreclosures/bank-owned) listed. We are experiencing a significant increase over past months. Contact us if you are looking for a specific type of property and/or want information as to WHY the sudden influx.*

The Maui real estate market hit the height of the market in the spring 2007 - with slight variance depending on the type of property in question - after which, with the market at a rapid decline and property owners losing significant amounts of equity, the inevitable happened: Properties started going into foreclosure. Below is a chart detailing the amount of REO's ('foreclosure'/bank-owned) listed each month:

Foreclosures on Maui

With a mere 45 listings in 2008, one could not have foreseen what was about to be

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With a deep emphasis on the luxury sector of Makena real estate, we remain diligent of all activity within the district as it may affect micro-market conditions. And the sale of two properties in the same boutique subdivision within a week of each other certainly raised some eyebrows.

Papa'anui at Makena is a small enclave of seven luxury properties with breathtaking, unobstructed ocean view corridors overlooking Makena Landing - an institution in it of itself. Prior to this week, the last sale was of 26 Uweloa in December 2012 for $8.28M and with rising market conditions across virtually every micro-market in South Maui, expectations were buoyant. 

makena home for sale

So with 38 Uweloa initially being listed for $7.4M, some argued that it would be absorbed but it

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Specializing in the Wailea Beach Villas and understanding its unique value proposition within the overall Wailea condo market, we keep a close ye of WBV activity. Interestingly enough, all of the six sales in 2013 have taken place in the second half. Recent Wailea Beach Villas sales registered a median price of $3.7M and average price of 3,471,250 - with price per square foot remaining a constant $1,630 - we are seeing Penthouse units being absorbed at a rapid pace, while the more costly front-row villas await for the right buyer.

The most recent sale was today, on December 20th, of Penthouse 507 for $3.79M. This sale is well within what has been the range for upper-floor Villas in the Penthouse building - with 405 selling for $3.75M and 505

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The Maui real estate market continues its upwards ascend and enjoys sustainable growth, yet for the savvy investor who is able/willing to act quickly, there are still strong values. Below are a few within different price points:

Hale Pau Hana 15

A short sale in an iconic beachfront property in one of the most sought-after beaches on Maui. This 1 bedroom / 1 bathroom unit offers panoramic views and boasts 702 square feet of interior living space.

Kapalua Bay Villas REO (Foreclosure)

For the buyer who is willing to excercise a high amount of patience and perserence, this unit is a arguably in one of the best locations within the complex. Kapalua waterfront living at its finest.

Residential Condo in the Heart of Kihei

 

Seeking

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