Maui Condo Sales Up, Prices Down

Aloha Kakou:

Maui condo sales rose 5.7% this May compared to May, 2010.

Maui's median condo price of $349,000 increased from April's $338,603 but was 14.9 % lower than last year's price of $410,000.

http://www.staradvertiser.com/business/20110611_Condominium_sales_rise_on_Maui.html

Maui Home Prices Stay Low

Aloha Kakou: Home prices on Maui continue to stay low as short sales and foreclosures weigh down market prices. During the first quarter of 2011, only 28 condos were sold in Kaanapali as compared to 82 for the first quarter of 2010. The average Kaanapali condo price was $872,095 and the median price was $670,000. Keep in mind these prices include condos in the oceanfront properties of the Whaler and the Alii as well as in the new Honua Kai. http://mauinews.com/page/content.detail/id/548259/Distressed-properties-keep-Maui----.html

Transactions Up, Prices Down

Aloha Kakou:

Last year saw 321 more Maui condominium sales transactions than in 2009. The average transaction price for a condo in 2010 was $648, 043, down 10% from '09, while the media transaction was only $258,000, down 16% from '09.

http://mauinews.com/page/content.detail/id/544972/-Prices-are-not-back--for-Maui-properties.html?nav=10

More Selling At Lower Prices

Aloha Kakou:

The good news is that almost three times as many "resort residential" properties will be sold on Maui this year as compared to 2009.

The bad news is that the sales are occurring because the prices are low.

http://mauinews.com/page/content.detail/id/543955/Resort-real-estate-sales-see-rebound.html?nav=10

Realtors Announce Maui Sales Data

Aloha Kakou:

While both the number of properties sold and their prices seem to be increasing, there may still be lower prices to be found, if one is willing to look.

While prices for single family homes have increased, the average condos price stands at $694k, a decrease of 9% from last year. The median condo price is $394k, down 21% from last year.

http://mauinews.com/page/content.detail/id/541548/Maui-Real-Estate-Market-not-black-and-white.html?nav=10

What's For Sale

Aloha Kakou:

Please see this list of units for sale. Along with some additions, there are some new prices as well. Thanks to Sue DeLoria of Whaler's Realty for providing this information.

Maui Eldorado 2661 Kekaa Drive Maui HI 96761
Current Active Listings 9/8/2010


J-211 Studio $279,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext.533 / Cell 808-250-5948

I-203 Studio $299,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 808-250-5948

L-102 1B/2B $370,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 808-250-5948

I-201 1B/1B $398,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 808-250-5948

C-202 1B/1B $399,000 LH Derek Escalera Whalers Realty Inc.
661-8777 ext.229 / Cell 264-4617

J-120 Studio $399,000 LH Betty Sakamoto Sakamoto Properties Ltd
669-0070 / Cell 870-7062

J-109 Studio $399,000 LH Nancy Montoya Whalers Realty Inc.
661-8777 ext.518/ 250-5073

D-206 1B/2B $425,000 LH Fred Haywood Realty
579-8848/ Cell 870-4904

C-102 1B/1B $425,000 LH Betty Sakamoto Sakamoto Properties
669-0070 / Cell 870-7062

K-202 1B/2B $454,000 LH Thomas Brozozowski Roos Realty Inc.
667-9163/ Cell 280-0113

G-105 1B/2B $460,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext.533 / Cell 808-250-5948

K-100 2B/2B $590,000 LH Robert J Cartwright Whalers Realty Inc.
661-8777 ext 223

K-213 2B/2B $850,000 LH Thomas Brozozowski Roos Realty Inc.
667-9163/ Cell 280-0113

A-211 2B/2B $875,000 LH Susan C DeLoria Whalers Realty Inc
661-8777 ext.533 / Cell 808-250-5948

I-204 2/2B $1,195,000 LH Casey Fukuda Sakamoto Properties Inc.
669-0070 / Cell 264-5362

Economist: Maui Real Estate As Low As It Will Get

Aloha Kakou:

Last Friday, economist Paul Brewbaker said in an address to the Realtors Association of Maui that he believes that real estate prices are essentially the lowest that they're going to go.

The 30% fall in real estate prices since 2007 has about come to an end, Brewbaker said.

Brewbaker believes that the stall in infrastructure improvement and the lack of substantial new housing developments mean more pressure on demand, thus driving up prices.

http://mauinews.com/page/content.detail/id/533463.html?nav=10

Maui Forclosures Show No Letup

Aloha Kakou:

While the number of home foreclosures in Maui County continues to be near record levels each month, the number of properties sold at auction, short sold or having loans modified continues to be just a few each month.

That means a large backlog of properties that need to be sold at distressed prices before the real estate market here can recover, which could take two or three years.

http://mauinews.com/page/content.detail/id/530587.html?nav=10

Maui Eldorado Sales List

Aloha Kakou:

Here's a list of the sales prices for units here at the Maui Eldorado.

http://www.jamesbfoster.com/pdfs/011_Maui-Eldorado-Apr-5-10_4bba4a627e06a_.pdf

Aloha Kakou:

Sales of condominiums on Maui rose 82% this March, with 122 units sold versus 67 last year.

March's median condo price was $512,250, up 9% from March, 2009's $468,000.

Kaanapali led the sales increase with 41 new units sold at the Honua Kai project.

http://www.honoluluadvertiser.com/article/20100412/BREAKING01/100412037/Maui+home+sales+surge++but+median+prices+see+mixed+results