Ever wonder how the million dollar real estate market compares to everything else? Given the nature of West Maui’s high-profile resort real estate environment, it’s an easy question, or assumption to make, “everything costs a $1,000,000+.” And plainly put, I’m here to share that in some/many neighborhoods of West Maui, it absolutely does.
Additionally, if the $1M luxury mark is an indicator of real estate health of what’s to come in the market, what sort of condition are we in?
In this regular feature article, I breakdown the $1 & $3M+ luxury thresholds to give you a closer look and understanding of West Maui’s real estate sector through the multi-million dollar lens.
Million Dollar West Maui | Mid Way-ish 2020
- There were 139 sales transactions recorded for $1M or more (out of 426 total sales).
- Those 139 sales comprised 32% of the entire West Maui real estate market.
- Home residential makes up 35% of the $1M+ market | Condos 63%
- A + 5% increase in sales volume compared to this time in 2019 – considering our business & travel environment this is pretty staggering.
- Some BIG numbers have been transacting in West Maui
- 3 West Maui homes have sold this year for north of $10M+
- A beachfront 1-acre Kapalua land parcel went for $8M.
$1M+ West Maui Historical Summary
$1M+ sales have historically accounted for roughly 26-29% of the entire West Maui market over the past 5+ years.
$3M+ Residential Market
$3M+ Historical Residential Sales Summary
2020 $3M+ Residential Sales Details
$3M+ Condo Market
$3M+ Historical Condo Sales Summary
