Category: Uncategorized

May 2017 Maui Real Estate Stats Home prices across the U.S. are reaching all-time highs, prompting worry over another boom-and-bust scenario like we experienced roughly ten years ago. Yet, as we glance across the state of residential real estate, what is clear compared to the last extended run of price increases is that lending standards are now much stronger than they were before. Incomes must be verified, a reasonable amount of money must be paid toward the home prior to purchase and a more stringent loan approval process is in place to prevent a repeat performance of the Great Recession. New Listings increased 3.2 percent for Single Family homes and 16.2 percent for Condominium homes. Pending Sales increased 16.3 percent for Single Family homes and 33.3 percent for Condominium homes. Inventory decreased 12.1 percent for Single Family homes and 21.5 percent for Condominium homes. Median Sales Price increased 12.4 percent to $700,000 for Single Family homes and 13.5 percent to $479,000 for Condominium homes. Days on Market decreased 20.5 percent for Single Family homes and 5.8 percent for Condominium homes. Months Supply of Inventory decreased 13.6 percent for Single Family homes and 29.3 percent for Condominium homes. In addition to a stronger base upon which to conduct real estate transactions, the overall economy is in better shape than it was a decade ago. More jobs are available, unemployment is relatively low and workers have more faith in their wages and the potential for wage increases. Although we continue to battle an inventory shortage in much of the country, optimism remains high for a successful summer for buying and selling homes. Quick Facts + 5.2% + 9.3% – 17.7% Year-Over-Year Change in Closed Sales All Properties Year-Over-Year Change in Median Sales Price All Properties Year-Over-Year Change in Homes for Sale All Properties This is a research tool provided by the REALTORS® Association of Maui, Inc. Percent changes are calculated using rounded figures. Single Family Market Overview 2 Condominium Market Overview 3 New Listings 4 Pending Sales 5 Closed Sales 6 Days on Market Until Sale 7 Median Sales Price 8 Average Sales Price 9 Percent of List Price Received 10 Housing Affordability Index 11 Inventory of Homes for Sale 12 Months Supply of Inventory 13 All Properties Combined 14 Current as of June 5, 2017. All data from the REALTORS® Association of Maui, Inc. Report © 2017 ShowingTime.

STUNNING OCEAN VIEWS FROM EXQUISITE WAILEA FAIRWAY VILLA  LUXURY CONDO (E201)

Stunning unobstructed OCEAN Views greet you immediately as you enter Wailea Fairway Villas E-201. 180 degree Ocean views span from Kaho’olawe to West Maui mountains to Maalaea Bay. Master bedroom has ocean views & guest bedroom has Haleakala views. Prime top floor, front row, corner end unit. E-201 has all brand new low-e windows, including lanai door, which helps keep the unit cool. Corner units have three extra windows.

Imagine living in this tranquil tropical setting overlooking ocean and Wailea’s Blue Golf Course.  This exquisite condo has been highly upgraded and newly remodeled. Master bath has luxury walk-in shower, granite counters and custom cabinetry. Gourmet kitchen is fully equipped with Wolf stovetop/oven and Bosch dishwasher. Upgraded granite counters, backsplash, sink and custom recessed LED lighting. Split AC system. Beautiful travertine flooring custom baseboards throughout and new custom carpeting. Pride of ownership shines everywhere you look in this beautiful home. Your new Maui home is perfectly located in the preferred “E” building, close to pool/spa for convenience, but not so close so you can have some privacy and quiet. Amenities include fitness facility, owners’ pavilion and BBQ/kitchen area. Walking distance to Wailea’s favorite beaches. Nearby world class golf, fine dining and shopping.

$715k  MLS 371341

Arrange for your private showing by contacting Michele Muir White R(S) 71240, ABR, Coldwell Banker Island Properties Wailea

808.298.8448 and email:  [email protected]

 

MAUI CONDO & HOME SALES ARE DOWN IN SEPTEMBER

Maui home sales were down in September from both month before and year before with a total of 82 homes sold for a median price of $667,500, according to the Realtors Association of Maui. This is 14 units less than what was sold in the previous month, and 15 units less than the 97 units that were sold in September 2015. The median price of homes sold was down $4,563 from August, and up $94,200 from the same time last year. Central Maui saw the most homes sold, where 20 homes sold for a median price of $572,438, then followed by Kīhei where 13 homes sold for a median of $620,000.

There was a sharp decline in condo sales from month before levels with 98 units sold in September, this is 26 units  less than he previous month, and 12 less than the same time last year. The median price for a condo in September was $377,000, down from the August median of $420,000, and also down from the $399,500 price tag at the same time last year. The most condos sold in September was in Kihei where 43 condos sold for a median price of $340,000, then followed by Napili/Kahana/Honokowai where 19 condos sold for a median of $403,000.

For an indepth analysis of Maui’s current Real Estate Market, contact your local Maui real estate expert, Michele Muir White R(S), ABR, Coldwell Banker Island Properties Wailea, 808.298.8448, [email protected].  A hui hou!

 

July Maui Condo Prices are Up – Condo Sales are Up. http://www.bizjournals.com/pacific/news/2016/08/11/maui-sees-increase-in-condos-sold-median-sales.html

Look forward to assisting you with your Maui home purchase or sale.  Michele Muir White R(S), ABR Coldwell Banker Island Properties Wailea 808.298.8448.  Email: [email protected]

Maui Vista 1-110

Paradise awaits you in this beautifully remodeled and spacious ground floor 1B/1B unit. Custom bamboo cabinetry, granite counters, walk in shower, bamboo and tiled floors make this unit quite exceptional. You will appreciate the special decorator touches and Island inspired décor. New low-e insulated thermo-paned windows and slider help keep this unit cool, clean and quiet. This island home has been meticulously maintained and is in pristine condition. Take a few steps from the lanai to the lush grounds and a tranquil pool. Maui Vista is a highly desirable well maintained complex. Onsite amenities include 6 tennis courts, 3 pools and 3 BBQ patio areas. Located across the street from Charley Young Beach and walking distance to shops and restaurants. Condo is completely furnished and ready for you to move into or make it your turn key vacation rental. This is one of the best units available in South Maui. Great vacation rental income. Buyer to honor future guest bookings. MLS 370254 $345k Michele Muir White R(S), ABR 71240, Coldwell Banker Island Properties Wailea 808.298.8448

http://www.bizjournals.com/pacific/news/2016/07/08/median-sales-prices-rise-for-maui-homes.html

For Lease – Wailea style luxury living in Central Maui! Villas at Kehalani is a sumptuous, gated complex located within minutes from all the amenities and conveniences of Wailuku. Close to Golf Courses, Beaches, Restaurants and Hospital. Villas at Kehalani is a 17-acre community of 103 luxury townhomes located in the Master Planned Community of Kehalani. This Ocean View Luxury townhome with a bright and open floor plan is immaculately kept and well appointed. Shows like a model. Unfurnished.

· 3 bedrooms, 2 full baths, + laundry room on the second floor
· Large lanai
· Two-car enclosed garage
· Spectacular ocean views of north shore, Haleakala & West Maui mountains
· Half bath on the main level
· Lots of storage
· Granite and marble counter tops
· GE Profile stainless steel kitchen appliances
· Bosch Washer and dryer
· Quiet, corner end unit with lots of privacy, extra light and big views
· New construction, completed in 2011, stucco exteriors, tile roofs.
· Central AC
· Unfurnished
· No smoking, No pets.
· Owner pays homeowner fees, water, trash, and pest control.
· Tenant pays for cable, electricity, internet, and phone service.

Available to show now. View by appointment only. One year lease. Lease Rent $3300. One month rent in security deposit. NOT HUD approved. Good credit, landlord references and verifiable income required. Michele Muir White RS-71240 Coldwell Banker Island Properties, Wailea 808.298.8448

99 home sales closed  in April with a median sales price of $680,000. In April of 2015, 87 homes sold with a median price of $581,000. This is a 14% increase in sales activity and a 17% increase in median price.

125 condo sales closed in April with a median price of $445,000. April 2015, 105 condos sold with a median price of $410,000. This is a 19% increase in sales volume and a 9% increase in median price.

There were 10 land sales with a median sales price of $453,500. Last April, there were 12 sales with a median price of $417,500. This is a 17% decrease in sales and an 8% increase in median price.

Some other noteworthy numbers  to look at:

The priciest Maui estate sold for $6,550,000 in April. The property is a 4 bedroom 4 bath Kula Estate with 7,809 square feet of living space, 2 cottages, a 9-car garage & sits on 23 acres of land.

There were 13 Luxury home sales of more than $2M in April. A Luxury Honua Kai Condo sold $5,490,309. This Honua Kai (Ka’anapali) sale was one of 13 condo sales over $1.5M.

So, after all of this being said what are my thoughts on the status of Maui’s Real Estate Market?  The Luxury market sales really stood out for me. It will be interesting to see if this increased activity in the Luxury market will keep up.

Also, of note, our highest price median sales price is the second highest median sales price since the recovery of the real estate downturn, due in part to our shrinking inventory of lower priced homes. Rising home values and a tight overall real market have resulted in a shrinking inventory of homes for sale that are priced below $500k.  Sales are also upon in the condo market.

Thinking about buying or selling Maui Real Estate?  Maui’s real estate market and inventory certainly do vary by locale and price point.  Be sure to check in with Michele Muir White R(S), ABR, SFR, Coldwell Banker Island Properties for an indepth analysis of your property.  Michele looks forward to be of service to you.  808-298-8448, email: [email protected]

 

 

73 homes sold in January with a median price of $630,000. Last January, 75 homes sold with a median price of $577,000. This is a 3% drop in volume and a 9% increase in the median price.

82 condos sold last month with a median price of $397,500. Last year in January, 83 condos sold with a median price of $378,000. This is just over a 1% decrease in volume and a 5% increase in the median price.

5 sales closed with a median of $850,000. Last year, there were 11 sales with a median price of $750,000. This is a 55% drop in volume and a 13% increase in median price.

Some noteworthy numbers from our January 2016 sales:

The highest priced home to sell in January sold for $3,975,000, and was an oceanfront property in the Baby Beach neighborhood in Lahaina.

The highest priced condo closed at $3,300,000. It was a 3 Bedroom, 3.5 Bath top row unit at Ho’olei, which was well situated in the complex, and was one of 4 condo sales for over $1.5M. The other sales were 2 Polo Beach condos and 1 Honua Kai condo.

The highest priced land transaction for the month closed for $865,000, and was a 1.42 acre CPR’d parcel in Launiupoko with the entitlements to build the main house.

There were 9 bank owned sales in January.  There were 9 bank owned sales in January 2015. Just one short sale closed in January. There were 6 short sales that closed in January 2015.

January 2015 and January 2016 Pending Sales Comparison
The number of homes that went pending in January was up 8% compared to January of 2015. The number of condos that were pending went down 8% compared to last year. Land was also down 26% compared to last year.

Certain segments of Maui’s real estate market are very active while other segments have more inventory than demand. Contact Michele Muir White R(S), ABR, SFR, Coldwell Banker Island Properties, Maui Real Estate Guru 808.298.8448, [email protected] if you are considering buying or selling Maui real estate. Michele welcomes the opportunity to dicuss our particular requirements.