Between showings, it has always been interesting for me to browse our local Maui MLS, constantly improving, getting a better feeling for the year-to-date sales numbers in the South Maui Real Estate market.
Thus far in 2009, a total of 46 Wailea Condos and Makena Condos have been sold. Combined revenues have exceeded $72,000,000.00. In addition, 108 Kihei Condos sold in the amount of more then $67,000,000.00. Only 11 Wailea Homes and Makena Homes sold this year, showing revenues of more then 32,000,000.00. The number of Kihei Homes that sold in 2009 is now at 78, bringing in revenues of more then $49,000.000.00.
Absolutely eye-popping are the results for Vacant Land sales in South Maui. Kihei Vacant Land claims one single sale for $350,000.00. Because of the New Developments of Papaanui At Makena and Maluaka At Makena, 18 parcels of Vacant Land recorded in Wailea and Makena for a total value of over $50,000,000.00.
Sure, the start of 2009 was not the best. But looking at the current status, it appears that things have turned around quiet a bit. 147 listings have received acceptable offers and are in Escrow at this moment. More then half, about 56% of these Escrows are for properties that were listed below $500,000.00. A total of 43% are classified as Short Sales or REOs, bank owned properties. Out of all these Escrows, 43% are for South Maui Homes, while the remaining 57% are for South Maui Condos.
For further details on recent sales and listings, please visit the Sales Reports on my website. They are being updated every weekend between Sunday night and Monday morning. Today’s Maui Photo is just a flower to relax. Since I don’t know anything about gardening, I can’t even tell you the name. But these are pretty colors. Enjoy, VW
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