For the year, West Maui sales volume still appears on a healthy trend over 2015. Land transactions are showing gaudy numbers at +50% for the year, with condos sales steady at +24% and residential homes at +12% over 2015. The luxury sector exploded with 5 sales of $3M or more in July, comprising 26% of the year’s volume of 19 total. At the entry end of the market, the lowest priced single family home sold for $525K and 4 condos sold for under $200K.
Masters at Kaanapali saw 3 properties close in July: Low $600K, High $1.15M
For a more in depth look of what happened:
69 properties sold (2016 still up 23% over 2015)
83 went under contract
72 properties came on the market
22 properties sold at $1M or more (32% of all July transactions over $1M)
Aina Nalu in Lahaina still remains a strong vacation rental value: 2-Bed Avg Price $377K for 2016
$185K was the lowest priced fee simple sale (Napili Ridge Condo)
$3.8M was the highest price sale (Montage Condo)
5 properties sold at-or-above $3M (4 homes, 1 condo)
11 properties sold at $400K or less
Wailele Ridge Sales underway! The new lux condo development in Napili had 2 pending sales in July.
