Aloha to All!
Welcome to 2008!!! I intentionally delayed this year's first newsletter until all the stats were in from our Board for the year 2007. I will give you a quick recap in the body of this Newsletter; if you would like more detail, or specifics on other parts of the island, simply drop me a note and I'll send you a personalized e-mail.
Since I specialize in south Maui (Kihei, Wailea, Makena), I will focus on those areas, comparing 2007 to 2006:
Single-Family Homes
Kihei--# of sales, down 28% (182-210); median price, down 4% ($729,850-$757,500)
Wailea/Makena--# of sales, up 13% (36-32); median price, down 2% ($2,028,500-$2,065,000)
Condominiums
Kihei--# of sales, up 21% (485-401); median price, up 8% ($427,000-$395,000)
Wailea/Makena--# of sales, up 31% (233-202); median price, down 3% ($1,328,775-$1,375,181)
Interpreting these stastistics is another story, since some of these numbers are skewed by new projects that have closed during the year, but generally speaking, our condo market is much stronger than our single-family home market. I believe the reason for that is that second-home buyers from out of state are going to naturally gravitate to condominiums over single-family homes (ease of maintenance, security, vacation rental option, etc.), and our market is still relatively strong for those buyers. Statistics on single-family homes reflect our local buyers here, and many are waiting to see where prices finally settle in. Personally, I think we have seen as much price adjustment as we are going to, but there are no shortage of opinions on that topic.
Now, for this month's Featured Listings (and there are some good buys out there):
MLS #327179--One of Kihei's best buys--this 1BR/1BA well-appointed oceanview condo directly across from the popular Kamaole II Beach Park, boasts a vacation rental occupancy rate of over 80%! A great starter property at $399,000!!!
MLS #322990--This 2BR/2BA Grand Champions condo has been on the market for awhile and is ripe for new owners. Located near one of the two pools in the complex and with a peek of the ocean; motivated sellers will look at all offers. Your foot in the door at Wailea...$690,000!!!
MLS #327702--With over 1,200 square feet, this 2BR/2BA condo at the ever-popular Maui Kamaole complex at the gateway to Wailea can be yours for $899,000!!!
MLS #327736--This full oceanview upgraded beauty in one of Wailea's best resort complexes (Wailea Ekolu) boasts an excellent location, away from all road noise and is ready to become your home away from home...a great value at $959,000!!!
It is my hope that 2008 will be your best year ever. As always, I look forward to your questions, comments, and inquiries.
Mahalo nui loa!
Michael Blaz
(808) 283-9093
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This information provided by:
Michael Blaz, ABR, CRS
Realtor/Broker
(808) 283-9093
Wailea Realty
(808) 879-1991 x45 |
