The slow season has arrived in South Maui, and the real estate market is reflecting this shift. While average list prices for single-family homes, condominiums, and land parcels have seen a slight uptick compared to last week, overall activity has notably slowed.
Minatoya properties, in particular, have experienced very little movement, likely due to pending legislation impacting vacation rental condos in the area. This uncertainty has led to a cautious approach from buyers.
Despite the quieter market, there have been some notable sales. A standout transaction was the closing of a Makena Beach Club property for a substantial $5,125,000, demonstrating that high-end properties continue to attract interest even during the slower months.
Overall, the South Maui real estate market is experiencing a typical seasonal slowdown. While prices remain relatively stable, the pace of sales has decreased. Buyers are exercising caution, especially in areas with legislative uncertainty. However, luxury properties continue to command strong prices, providing a glimmer of activity in an otherwise quiet market.
Should you have any questions or comments, please get in touch with me.
Aloha,
Ken Wong REALTOR(S) 58204
Coldwell Banker Island Properties
Comments