Pukalani Maui HI - The Gardens Upcountry sales update

The Gardens Upcountry market snapshot - what sold and what's for sale

There's been a lot of sales activity recently at this development at 71 Makawao Avenue.  3 sales in the past 2 months alone, and another one Pending.  Not bad for a small complex of only 20 apartments.  (Previous to these 3 sales the last one was 3 years ago, when unit 16 sold for $398,000.)

• Unit 15 sold for  $410,000 on 6/9/16
• Unit 2 sold for  $440,000 on 7/13/16
• Unit 11 sold for  $478,750 on 7/18/16
• average sale price = $442,916, median sale price = $440,000
• NONE were short sales or REOs
• 1 sale used conventional financing, 2 sales were all cash

What's for sale now in here?  There's only 1 more unit, Unit 8 is listed at $450,000 and has been under contract for about a month and a half.  All of a sudden everyone wants to own a unit at The Gardens Upcountry!

What a change from 8-10 years ago when the sale prices were in the $600,000's.

These units are all 2BD/2-2.5BA with different floor plans, and with at least 1,400 square feet.  The buildings were built in 1999-2000 and have lovely views looking down towards the central valley.  Owners enjoy the high ceilings, the butcher block counters in the kitchens and having a small yard.