Are there still good buys? After hearing this over and over, yes, there are great real estate purchases in our current market.
Reviewing 1st quarter statistics for Residential Homes, as well as Fee Simple Condos, the market remains stable and healthy. While analyzing the first three months of 2017 compared to 2018, the average sales price for homes on Maui, Molokai, & Lanai has increased 5%.
Where are the good purchases? When looking at Spreckelsville, Paia, & Kuau, the average sales price has decreased significantly at over -30% compared to this period last year. Not sure about you, my friends and clients enjoy a bargain, especially when buying a home.
As for the Fee Simple Condominiums, nearly half the amount of condos moved in Lahaina. The number of units sold have decreased by -45.8%. In addition, the sales price has dropped by -8.7%. With the average sales price under $500,000, this price point is very attractive. In addition, Wailea’s average sales price has decrease by -17.6%.
When evaluating Kapalua condos, we are seeing the higher end market moving with 1031 Tax Deferred Exchanges and the selling of like kind properties. Having the ability to rent out condos short term, this impacts and has increased the sales of condominiums in Kapalua.
Overall, for Fee Simple Condos, all of Maui, Molokai, & Lanai has increased 3.9% when compared to last year during this same period. Although it is early in the year, the growth remains balanced.
Remember, Your Neighbor is My Neighbor! Please phone me directly. With holding Open House 5 days per week, it is not common to be sitting in an office. Just as I have helped others, I would be excited to help to your family. Ready to put my skill to work?
Lic # RS-76326
808-359-1161 - Direct
Your Favorite Maui Real Estate Pro