New Oceanfront Listing in Puako—coming soon!
While 2010 first quarter volume shows improvement over 2009 for Puako Beach sales (no sales in Q1 2009), prices have continued to decline. Two second floor condo units sold for $275k and $225k. These would have traded for $400k-$500k in 2005/2006.
There haven’t yet been any mauka (mountain) side properties sold in Q1, but as far as oceanfront property sales go, we’ve seen one 750 sq ft traditional beach cottage conveyed for $1.8M and a bare oceanfront parcel sold for $1.6M. Um. Wow.
These are 2001-2002 prices, peeps. Have we hit the bottom yet?
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