I've just posted my latest Kapalua Resort Newsletter and Market Update. Looking back at the MLS activity for the Kapalua Resort in the month of March, the Kapalua Resort Market:
- There were 12 new listings, ranging from a low of $650,000 for a two-bedroom Golf Villa one-bedroom to a high of $12,995,000 for a 13,705 sq. ft. estate home on over five acres in Honolua Ridge II.
- Of the new listings, one was a bank owned property: 406 Monarch, Pineapple Hill I, was listed at $1,700,000 and received an accepted offer the first day it was listed. The offering price was at approximately 70% of the average sale price of $2,358,333 for homes in Pineapple Hill since 1/2008.
- There have been 21 properties that have reduced their asking prices: 7 Bay Villas, 2 Golf Villas, 4 Ridge Villas, 1 Pineapple Hill home, 1 fractional ownership of a home in Pineapple Hill, 1 Plantation Estates Home, 1 Oceanfront Home, 2 Ironwoods Villas, and 1 lot at the Plantation Estates.
- There are two new escrows in March: a Bay Villa oceanview one bedroom in original condition, and the 406 Monarch in Pineapple Hill
- One sale of a home in Pineapple Hill, 1200 Summer at $2,325,000, which closed at 90% of the asking price.
In addition to the active MLS listings and pending sales, I've revamped my newsletter to provide year to date updates rather than sales since the last newsletter. I've also included original list prices and price per square foot. I hope this will better update those of you interested in following our Kapalua Resort market. Please don't hesitate to contact me with any questions or for additional information!