Presented by Aloha Potts
Issue 39 – Q2, 2015
Aloha! from your Resident Experts!
My, how things can change in just one quarter! Aina Nalu is HOT! HOT! HOT!
In the 2nd quarter we had 10 closed sales, compared to 1 sale in the 1st quarter and one in the 4th quarter of 2014. Of the 19 units that were listed in the 2nd quarter, all but 4 have either sold or gone into escrow! So it appears that the market finally understands the value of aina nalu.
During the quarter nine 2/2 units and one studio sold. Three 1bedroom units also went into escrow, along with two more 2/2 units. Of the 10 sales in the quarter, Aloha Realty Group represented the buyer, seller, or both parties in 7 transactions.
Inventory levels went from 7 at the end of the 1st quarter to only 4 active listings at the end of the 2nd quarter. Currently, there are just one studio, one 2/1 unit, and two 2/2 active listings for sale.
Sales prices for 2/2 units have begun to improve after a prolonged drought period. In quarter 1 the one sale was a 2/2 unit at $360,000. In quarter 2 there were 9 sales of 2/2 units, ranging in price from $360,000 to $410,000 for an upstairs unit overlooking the saline pool.
From April 1st to June 30th there were 19 listings and 10 closed sales. There were no expired or cancelled listings at the end of the quarter. There were 5 pending sales and 4 active listings at the end of the quarter.
We have more good news – we have a Wells Fargo lender who can lend on aina nalu condos, so there are more choices for buyers and possibly refinancing.
Last but not least, our aina nalu fundraiser on May 23 for the West Maui tutoring program was a success – attendees enjoyed good food, wine, entertainment and a great silent auction. As a result of the fundraiser and contributions made throughout the year by Aloha Realty Group, our nonprofit will donate $22,000 to the tutoring program this year. Thanks to all who helped us achieve that goal!
For further information on properties at aina nalu or anywhere on Maui, contact Lee or Barbara at lee@alohapotts.com or barb@alohapotts.com, or call 808.276.8776. You can visit our website at www.alohapotts.com for real estate information and surf all of the listings on Maui anytime you like.
Barbara
Live Aloha!
Barbara S. Potts, R(B), MBA, SFR, ABR®, CNE, CIAS, GRI
Certified Short Sales and Foreclosure Resource
Principal Broker
Aloha Realty Group
180 Dickenson St. #217
Lahaina, HI 96761
808-344-5008 cell
808-443-0555 efax
Search active Maui listings at www.aloharealtygroup.com
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