Changes in the Kapalua, Maui Real Estate Market

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Real Estate Agent with Island Sotheby's International Realty R(S): 56519

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.

Aloha!

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Hawaii Maui County Lahaina Kapalua
Tags:
coconut grove
golf villas
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bay villas
ridge villas
pineapple hill
kapalua condos for sale
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Rainer
65,610
Marcy Eastham
Town & Country Realty Corvallis Oregon - Corvallis, OR

Aloha, Courtney!

That's a huge price drop for the Ridge.  Aren't most of the units on the MLS at least $200k higher?  Glad to see you have some activity! 

Sep 10, 2009 11:30 PM #1
Rainmaker
156,008
Courtney Brown, Realtor (S) Vice President
Island Sotheby's International Realty - Lahaina, HI
Live a Maui Life!

Aloha Marcy,

Thanks for reading!  Yes, prices have been coming down.  Prices for one bedrooms at the Ridge range from $697,000 to $1,250,000.  This particular property was bank owned.  The two bedrooms range from $1,179,000 to $1,995,000. 

As there hasn't been a sale in a year, pricing is pretty varied.  View and interior upgrades will often be the biggest factor in asking price. 

Mahalo,
Courtney

Sep 11, 2009 09:01 AM #2
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Rainmaker
156,008

Courtney Brown, Realtor (S) Vice President

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