Kapalua, Maui Real Estate Market Update: April, 2012

April 4, 2012

It has been a beautiful winter and spring here in Kapalua, and there is a sense of optimism in the real estate market. If we were to compare the first few months of 2012 with 2011, there have been 14 sales to date vs. only 9 in the same time frame. The total dollar volume remains fairly constant ($25,611,000 in 2012 vs. $24,560,300 in 2011). However, it is noteworthy that the 2011 figure was significantly increased by the sale of a $14 million home, and without it, the volume would have been less than 50% of that achieved so far in 2012.

The following is an overview of the activity in last month in the Kapalua real estate market:

NEW LISTINGS:
There were seven new listings in Kapalua over the last 30 days, ranging from $275,000 for a Ritz-Carlton Club fractional ownership villa to $4,900,000 for a home in Pineapple Hill

CONDOMINIUMS:
Ritz-Carlton Club and Residences
3304 2B/2.5B $275,000 (1/12 ownership)

Kapalua Golf Villas
14T4,5 1B/2B $489,000 Potential Short Sale

HOMES:
Pineapple Hill
516 Pacific 4B/3.5B $2,195,000
1008 Sunset 3B/3.5B $3,950,000
208 Crestview 4B/4.5B $4,900,000

Honolua Ridge
92 Keoawa 5B/4.5B $3,995,000

VACANT LAND:
Honolua Ridge
98 Keoawa 4.28 acres $895,000


PENDING SALES
There are currently 9 properties pending sale: 6 Golf Villas, 2 Ridge Villas, and 1 home at the Plantation Estates.

SALES:
As of this posting, there have been 15 sales recorded within the Kapalua Resort:
CONDOMINIUMS:
Kapalua Golf Villas
18P56: 2B/2B Listed at $559,000, sold at $515,000 REO
18V4: 1B/2B Listed at $575,000, sold at $575,000
12T1: 1B/1.5B Listed at $430,000, sold at $410,000
24P56: 2B/2B Listed at $568,500, sold at $485,000 REO
14P34: 2B/2B Listed at $839,000, sold at $780,000

Kapalua Ridge Villas
1721: 1B/2B Listed at $620,000, sold at $566,000
921-23: 2B/3B Listed at $1,100,000, sold at $895,000
2821-23: 2B/3B Listed at $1,100,000, sold at $1,000,000
Kapalua Bay Villas
26B3-4: 2B/3B listed at $2,490,000, sold at $2,150,000
Kapalua Ironwoods
52: Listed at $2,750,000, sold at $2,450,000
102: Listed at $3,675,000, sold at $3,425,000
Coconut Grove
18: 3B/3.5B sold at $5,000,000 *Not in MLS--Private Sale

HOMES:
Honolua Ridge
231 Kaupalena Place, Phase II: Listed at $2,69,000, sold at $2,760,000 Short Sale
Plantation Estates
201 Plantation Club Drive: 4B/5.5B Listed at $4,300,000, sold at $3,000,000

VACANT LAND:
Honolua Ridge
Lot 1, Phase II: Listed at $1,890,000, sold at $1,600,000

Number of Sales:
2010: 41
2011: 43
2012: 14 YTD
Average Sale Prices:
2010: $1,944,707
2011: $2,013,133
2012: $1,707,400 YTD
Total Volume:
2010: $79,733,000
2011: $86,563,862
2012: $25,611,000 YTD

For more information on the Kapalua real estate market, please don’t hesitate to contact me.

Aloha,
Courtney