Changes in the Kapalua, Maui Real Estate Market.
The Kapalua Resort has showed an increase in market activity with two new pending sales this past week:
Newly pending are Ridge Villa 1511, listed at $899,900, and 1000 Sunset in Pineapple Hill, listed at $2,645,000.
These two escrows join two others from August: My listing at Kapalua's Bay Villa 23G2, listed at $1,395,000, and Golf Villa 26P1-2, listed at $750,000.
The sale of 1511 will be the first at the Ridge Villas in over a year. As there have not been comparable sales in that time, this should be a helpful marker of the current values at the Ridge Villas. There have been four sales at the Golf Villas, and one at the Bay Villas. The Ironwoods and Coconut Grove have yet to see an escrow in 2009.
There have been several sales since January in Pineapple Hill phase I. Pineapple Hill has a varied inventory. Owners originally were required to build one of six floorplans, unless the house was located on a double or triple lot, at which point a custom floorplan could be built. Since then, the HOA and KRA have allowed owners to make significant modifications to the six floorplans, as long as the original footprint is maintained and necessary approvals are sought.
For more information on the Kapalua Resort and Maui real estate market, please don't hesitate to contact me.