It appears that May 2009 put the South Maui Real Estate Market slowly back on track. This certainly does not indicate that we are ‘back up’ with our market values. By all means. No! I would much more say that there are now finally a good deal of people seeing what I am seeing: it is a great time to buy and there are some folks getting excellent deals on Makena and Wailea Real Estate.

The month of May 2009 shows a total of 23 transactions in either closed sales or new escrows. 7 Wailea Condos in 4 different complexes have been sold. Another 7 transactions in 6 Wailea Condos received acceptable offers and opened escrow. And while 2 Vacant Lots sold, 3 more went into escrow, all of them are at higher price levels. 3 Wailea Homes changed ownership while another house received an accepted offer. You see, it was a busy month down here and I can certainly say that showings for all my listings have increased over the past few weeks.

Grand Champions Villas #49 closed as a sensational deal. 2 bedrooms 2 bathrooms, a bank-owned property for $310,000.00. Another 2 bed 2 bath, unit #2, sold for $475,000.00. The owners of unit #163 accepted an offer and opened escrow. Wailea Ekahi #43B, also bank-owned, sold for $575,000.00 while unit # 1E closed almost $20,000.00 over asking price for $765,000.00. Both Wailea Ekahi units are 1 bed 2 bath units. Unit #39C is a 2 bed 2 bath listed for $1,500,000.00 and is now in escrow.

Wailea Palms #3805 sold for $815,000.00 as a popular B-plan with 2 bed and 2 baths. Unit #2508 has excellent ocean views, the same floor plan and is scheduled to close in June. The Palms at Wailea #2303 also received an accepted offer. And, finally, Papali Wailea gladly reports an accepted offer and new escrow for unit #2.

The clear winner in the Wailea Condos segment is Hoolei At Wailea, reporting 2 closed sales around $2,300,000.00 together with 2 new accepted offers currently in escrow. I have always believed that unit #B4 in this complex is the best unit and it finally looks like it will change ownership very soon. None of the Makena Condos has been sold this last month.

Two Wailea Homes in the gated community of Wailea Kialoa changed owners this month. These sales recorded for $899,000.00 on 212 E Ikea Kai and for $1,425,000.00 on the corner of 3166 Kikihi Street. The 2nd is dated but has excellent ocean views and was first listed for $2,100,000.00 less then 4 months ago! A cute single level home in Wailea Pualani Estates received an offer and is now in escrow. Similar to the Condos, there is no sale to report for Makena Homes.

Papaanui Makena sold lot #3, the last view lot, for $1,500,000.00. A neighbor bought parcel #30, a portion of an ocean front lot in Palauea Bay. Closing price was $1,440,000.00. The 3 new Vacant Land escrows are Wailea Golf Vistas lot #24 listed at $1,345,000.00, Keahou at Makena lot #C listed for $4,800,000.00 and Maluaka at Makena lot #13 listed for $5,250,000.00.

And our economy is “what” again? You tell me if you want to be mentioned in this line up next month! Smart money is buying now. And there continue to be some excellent opportunities. Be sure not to miss out. I would love to hear from you. Aloha, VW

Today’s Maui Photo simply shows a message: RED HOT Wailea Condos. Get one if you can! Now is the time. All Sales Reports will be updated this coming weekend on Sunday as usual. Mahalo, VW.

This entry was posted on Monday, June 1st, 2009 at 11:59 pm and is filed under Vacant Land, Wailea Condos, Wailea Homes. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.