Kapalua Golf Villas: The Market is Moving
I am pleased to announce that in response to the price reduction of Kapalua Golf Villa 15V3 to $560,000 yesterday, we received an offer and placed it into escrow today.
This is continued evidence of a pick up in the real estate market in Kapalua. The momentum has been largely in the lower end of each market segment. For example, condos in the $500-1,000,000 range and homes in the $1.7-2,700,000 range have constituted the bulk of the sales.
Land re-sales continue to be slow, while new developer land sales were limited to the one sale this year was a 124 acre parcel sold by Kapalua Land Company. Known as Mahana Estates, this parcel can be further subdivided to 51 lots, in compliance with the design standards of the Kapalua Resort.