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No Signs of Slowdown in West Maui: March & Q1 2019 Sales

No Signs of Slowdown in West Maui: March & Q1 2019 Sales

As it is my commitment to keeping the local community informed, I am pleased to share with you the most recent West Maui home, land, and condo sales reports for your review — covering KaanapaliKapaluaLahaina, and Launiupoko. You’ll find real estate sales volume, days on market, list versus sold price, price per square foot, and more.

March 2019 Headlines

  • 76 sales in March – 2nd highest since May 2014
  • 54 properties went active on the market
  • Kapalua Pineapple Hill sells 2 more, 3 more under contract
  • Mahana Ridge in Kapalua breaks the ice with 2 land sales
  • Napili Villas leads condo market  with 6 sales, 5 of them 3-bedrooms
  • Highest priced sales: Home – $2.7M Condo – $2.8M  Land – $1.9M
  • Lowest priced sales: Home – $354K Condo – $249K  Land – $700K

March Average Home Sale Prices

March Average Land Sale Prices

March Average Condo Sale Prices

2019 – Q1 Things to Know

West Maui total sales volume is up 26% from 2018 and take into consideration 2018 was 7% over 2017. Condos and land sales are especially strong at +27% & 43% respectively. The Kapalua residential market has something to talk about as Pineapple Hill has been heating up over the last few months. In a neighborhood that averages just over 5 sales/year, PH has seen 4 sales this year, with 3 currently under contract. While prices are still up in Launiupoko, sales have been on the decline and are currently down -29% from the same point last year. I would normally say this is a blip but 2018 was also down -44% from 2017. Lahaina homes always seem to be in demand, and the numbers confirm it — sales are up 50%.

Absorption Rate = The rate at which available homes are sold in a specific market over a specific time. This figure shows how long it will take to exhaust the current inventory supply. In this month’s update, there are 491 active properties and 799 sold in the past 12 months.

  • West Maui home, land, and condo inventory combined AR – 7.4 months
  • Home AR – 10.4 months
  • Condo AR – 6.1 months
  • Land AR – 41.4months

Work With Jeff

Have questions about the area(s) or the real estate market? From his work and life experience, Jeff has an expertise and love for Resort markets and Resort marketing. Get honest, professional assistance in determining current property value, differentiating available inventory, crafting a competitive offer, writing and negotiating & more. Feel free to contact him today.

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