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West Maui Brief & Market Area Sales Report: July 2016

West Maui Brief & Market Area Sales Report: July 2016

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

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 still remains a  strong vacation rental value: 2016 2 -Bed Avg Price $377K

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 Ride Sales under way! The new lux condo development in Napili had 2 pending sales in July.

Wailele Ridge Sales underway! The new lux condo development in Napili had 2 pending sales in July.

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