Aloha from Maui!

It's been an outstanding summer in Kapalua, and our real estate market has shown signs of improvement. Resort activity continues to pick up over the early part of this year, with a few new sales and escrows.  However, overall, the total number of resales in the resort is down 48% from last year, with average listing prices down 27% and average sales prices down 33%. Inventory at the lower end of the condominium markets and residential markets is moving, whereas land sales have stalled.  Here are some highlights of the MLS activity in the Kapalua Resort looking back at August:

  • Active Listings: There are a total of 136 active listings in the resort, ranging from $499,000 to $19,500,000. Of these listings, 12 were new listings, ranging from a low of $625,000 for a one bedroom Golf Villa to a high of $11,500,000 for a home in Plantation Estates. 
  • Short Sales/REO's: There are three potential short sales noted in MLS. There is one pending REO (bank owned) and one closed REO year to date.
  • New Development Sales: While information can be hard to calculate with regard to developer sales, as they are not posted in MLS, I have heard that 5 sales have occurred at the Ritz-Carlton Residences, Kapalua Bay
  • Escrows: There are currently 4 escrows
  • Closings: There were two closings: A two bedroom Golf Villa for $600,000, and a one bedroom Bay Villa for $799,000.  Both were in original condition.  
  • 2009 vs. 2008 YTD: We have had 11 closings year to date in 2009. By comparison, we had 21 closings as of this date in 2008.
    View the August vs. July 2009 Statistics              View the 2009 vs. 2008 Year to Date Statistics

Market updates for the Kapalua Resort, Napili, Kaanapali, and Maui Oceanfront Homes & Land are available in the current Newsletter. I specialize in the Kapalua Resort, but also work across the island. Please don't hesitate to contact me with any questions or for additional information on the Maui real estate market. Even if you are not ready to buy or sell a property right now, I would be happy to keep you up to date.

In Resort News, there are several pending changes reportedly in the works for the Kapalua Resort operations.  As details are confirmed, I will post information on my blog.

Thank you for making this your resource for news in Kapalua and on Maui.  Please forward the link www.luxuryrealestatemaui.com/newsletter.asp to a friend or associate that might appreciate this information.

Each month, along with local event updates, you will find sales statistics for the entire island posted to Courtney's Blog, as prepared by the Realtor's Association of Maui. Annual and Monthly Statistics can be found on the Market Reports section. This month, The Sea House on Napili Bay is the contributor to Local Flavors. Enjoy!

Aloha,

Courtney

 
Thank you for choosing www.LuxuryRealEstateMaui.com as your Maui Information Source!
Care was taken in preparing this information on 9/10/09. All information is taken from the Maui Multiple Listing Service, and is deemed accurate, but is subject to change and should not be relied upon without verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Please note that listings in the MLS represent many different broker's listings and sales, and are not just those of Kapalua Realty. At times, those noted in the pending or sold categories may have never been active in MLS, but rather put immediately in the pending/sold or may be . All listings are fee simple unless designated leasehold. All Summary Charts are © 1995 to present, Realtor's Association of Maui, Inc. All rights reserved.