Maui Real Estate and Kapalua Resort: Market Statistics for August 2011

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

Maui Real Estate and Kapalua Resort: Market Statistics for August 2011

The Realtor's Association of Maui (RAM) has posted the August 2011 Maui Real Estate Statistics

The report provides an overview for the market for Maui County in general and by area.  I find the a comparison of the market through August 2011 as compared with the same period in 2010 to be of particular interest.  RAM reports the following activity across Maui County:
Residential Sales: number of sales (+6%), average sale price $792,210 (+5%), total dollar volume $268,988,206 (+11%)
Condo Sales: number of sales (+1%), average sale price $516,537 (-28%), total dollar volume $428,725,338 (-27%)
Land Sales: number of sales (+2%), average sale price $640,197 (+24%), total dollar volume $60,818,751 (+27%)

In my own Newsletter and Market Update, I prepare a similar analysis for the Kapalua Resort:
Kapalua (Residential, Condo, and Land) Sales: number of sales (+13%), average sale price $2,286,253 (+3%), total dollar volume $70,873,862 (+15%)

According to RAM, the absorption rate for Maui County is:
Residential= 10.4 months, Condo= 13 months, and Land=48 months

In Kapalua, I calculate the absorption rate to be:
Residential= 15 months, Condo= 36 months, and Land= 30 months

While in Kapalua we have a larger overall supply of properties, we have seen a marked increase in the volume of the total number of sales in 2011 over 2010.  It is also noteworthy that as a resort community the average sales price is significantly higher.   

 

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Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Courtney - Thank you for sharing detailed information on Maui real estate and Kapalua Resort, market statistics for August 2011.

Sep 17, 2011 04:58 PM #1
Rainmaker
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Courtney Brown, Realtor (S) Vice President
Island Sotheby's International Realty - Lahaina, HI
Live a Maui Life!

Aloha John,

Thank you for taking the time to read the update!

Sep 18, 2011 08:52 AM #2
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Rainmaker
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Courtney Brown, Realtor (S) Vice President

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