Well, it's officially fall now. I'm sure parts of the mainland is starting to experience the leaves changing colors and pumpkin spice galore. Here on Maui, one of the first whales were spotted earlier this week, the beaches are less crowded and you can make a left hand turn without waiting for too long. Here's what happened in South Maui's real estate market this past week.
We have 9 price reductions. A few of these need additional reductions. :-)
Here's the properties that went under contract in the past week. Take note of the One Palau'ea Bay home under contract. $35,000,000. The big boys are here and buying Maui.
And finally the closings...
While we aren't experiencing the sold above list prices as much as we did earlier in the year, sales continue to be strong. If you've been following Maui real estate for a while you will notice sales prices are still very good, especially in the non vacation rentable condominium complexes. We haven't experienced the drop off that much of the mainland is starting to experience. Maui usually follows the mainland markets by about six months.
53 single family homes are on the market in South Maui. List prices range from $749,900 to $22,500,000. Median list price is $2,399,000. 71 Condominiums are active on the market ranging in price from $530,000 to $12,750,000. Median price is $1,095,000. 10 parcels of land round out the South Maui market. Prices range from $9900,000 to $6,900,000. Median price is $3,775,000.