Maui Hawaii South Shore Condo Newsletter     -     January 2010

It's a new year and time for a new twist on the condo newsletter just to
start things off right.  This month I'm going to write about the sales from
2009.  In total, for the areas of Maalaea, Kihei and Wailea, there were 360
condo sales ranging from $90,000.00 to $3.6M.  14 of those were Leasehold,
in Maalaea, Kealia and Kamaole Nalu.  The average days on market was 171
days.

Distressed properties: 38 of them were short sales and 43 were bank owned.
Median short sale price was $299,250.  Median REO price was $199,000.

Below are some of the high and low points from 2009.  THESE CONDOS ARE
ALREADY SOLD.
------------------------------------------------------------

1.     Lowest Price, Central Kihei  $90,000.00 cash
- Kihei Manor 1BD/1BA condo in a small building with no vacation rentals
allowed
- this remodeled and cute condo was a short sale originally listed for
$129,000.

2.     Kihei Villages, North Kihei  median $175,000.00
- 23 of these starter units sold, with 13 of them being distressed
properties
- 2BD/1-1.5BA, about 750 sf townhouse style upper or lower floor homes

3.    Low Price Vacation, North Kihei  median $157,500.00
- Kihei Bay Surf studio condos are entry level vacation units
- $145,000.00 was the low water mark, and up as high as $179,000.00

4.    Beachfront Bargain, North Kihei  $280,400.00 cash
- furnished 1BD/1BA 4th floor vacation condo with ocean view
- believe it or not, not a short sale or bank owned

5.    Beachfront Best Buy, Maalaea  $399,000.00
- newly remodeled ground floor 2BD/2BA vacation unit with new furnishings
- fee simple, beachfront, with ocean view, pool and spa

6.    Bank Owned, Wailea  $575,000.00
- the highest price paid for a bank owned condo was at Wailea Ekahi
- furnished 1BD/2BA vacation condo, conventional financing

7.    Ke Alii Ocean Villas, Kihei  average $660,506.00
- 35 units at the new Ke Alii Ocean Villas closed, 21 of these were all cash
- these are nice 2 and 3 BD units with 1200-1700 sf, and a single garage
- most of them were developer offerings, brand new construction, some seller
concessions

8.    Brand New, Kihei  $879,000.00
- Hokulani Golf Villas had a slow year with only 1 sale which entered the
market at $1,079,000.00
- beautiful 2BD/2BA residential condo on the fairway and close to Piilani
Shopping Center

9.    Short Sales, Wailea  over $2,000,000.00
-  there were 2 successful short sales at Ho'olei in Wailea, both around
$2,100,000.00
- one cash buyer, one was financed for these luxurious 3BD/3.5BA resort
condos
- days on market... 386 days and 489 days!

10.    More Ho'olei, Wailea  median $2,200,000.00
- 19 total sales, including the previous 2 short sales
- most were first time offerings from the developer, 5 were cash buyers,
seller financing for some

11.    Highest Price, Wailea  $3,600,000.00 cash
- this luxury 3BD/3BA unit was sold before listing, the agents put together
a deal for their clients
-nicely furnished vacation rental with maintenance fees over $3100/month
- it was a Wailea Beach Villas penthouse, with 2,893 sf of living space and
a 452 sf lanai

------------------------------------------------------------

So what do you think?  Maybe it's not too late to get your own piece of Maui
before prices start going up again.  You know they will sooner or later.
Got cash?  Call me.  Don't forget you can sign up for these Maui newsletters.

------------------------------------------------------------

Georgina M. Hunter R(S) e-Pro
Paia, HI  96779  (808) 283-0635

Jim Sanders Realty Inc.
PO Box 792050, Paia, HI  96779   (808) 579-8255  FAX: 579-9004

Looking for a beachfront penthouse?
Call THE HUNTER... Georgie Hunter, your South Maui Specialist.

Search all condo and residential listings on my website...  www.eastmaui.com

Search ALL MAUI CONDO active listings by name.

Learn more about Maui by reading  www.MyMauiBlog.com


Aloha from Maui... "I want to help you reach your Real Estate goals."

Maui beaches are the best

 
This post has been included in Hawaii Real Estate News Maui County, HI Real Estate News Kihei, HI Real Estate News
Post is included in group: City & State: Listings and Market Reports
Post is included in group: Hawaii Real Estate Professionals
Post is included in group: Market Updates
Post is included in group: Posts to Localism
Post is included in group: Vacation and Second homes

1 Comments on Maui Hawaii South Shore Condo Newsletter - January 2010

JAN
17
2010
1,346,786 Points 71 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

thanks for sharing this information - it is always a reality check to see what prices are like out there!

9:31am • #1

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Georgina M. Hunter R(S) e-Pro Maui Real Estate Sales

Haiku, HI

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Jim Sanders Realty Inc. - Maui

Address: PO Box 792050, Paia, HI, 96779

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