The numbers are in for all the condominium sales in Wailea and Makena and they show a cooling off in the high end and increased sales in mid-priced and affordable condos. Read below for a recap of 2012 Wailea condo sales…
Total sales up, average price down
There were a total of 114 condo sales in Wailea for 2012 which is up 10.67% (there were 103 sales in 2011). The bad news? Average sales price for Wailea condos fell to $1,201,996 which is down 22.38% from 2011 which was $1,548,654. This decline in the average sales price can be directly attributed to fewer high end sales in communities like Wailea Beach Villas and Wailea Point and increased sales in more affordable communities like Grand Champions and The Palms at Wailea.
Wailea condos sold faster in 2012
Average days on market is a useful measurement for how fast buyers are responding to what’s available on the market. In 2012 we saw Wailea condos selling 22% faster with the average days on market shrinking to 173 (in 2011 the average was 222).
Fewer Wailea luxury condo sales
In 2011 there were 11 Wailea condo sales over $3 Million and that sales activity represented over 30.49% of the total sales volume. In 2012 there were only 7 condo sales over $3 Million and activity in luxury market shrunk to only 20.97% of the total sales volume. It was extremely quiet in the luxury community of Wailea Point where the number of sales dropped from 11 in 2011 down to only 3 sales in 2012. The average sales price at Wailea Point is up from last year but still off from the high average back in 2010, see the list below…
Wailea Point sales in 2012
- Number of sales: 3 (down from 11 in 2011)
- Total sales volume: $11,375,000 (down from $34,074,500 in 2011)
- Average sale: $3,791,667 (up from $3,097,682 in 2011)
- Price per square foot: $1,337.38 (down from $1,669.92 in 2011)
It’s a similar story at Wailea Beach Villas were the number of sales dropped from 6 in 2011 down to only 3 sales in 2012.
Wailea Beach Villas sales in 2012
- Number of sales: 3 (down from 6 in 2011)
- Total sales volume: $13,342,000 (down from $22,625,000 in 2011)
- Average sale: $4,447,333 (up from $3,770,833 in 2011)
- Price per square foot: $1,694.61 (up from $1,627.37 in 2011)
Wailea Condos with double positive movement
There are three Wailea communities which stand out in 2012 with increases for both sales volume and average sales price.
Grand Champions sales in 2012
- Number of sales:Â 16Â (up from 8 in 2011)
- Total sales volume:Â $7,887,900Â (up from $3,768,900 in 2011)
- Average sale:Â $492,994Â (up from $471,000 in 2011)
- Price per square foot:Â $449.76Â (up from $430.58 in 2011)
Grand Champions doubled the number of condos sold and had a healthy 4.6% increase in average sales price to $492,994 for 2012. Below is a quick list of three recently updated Grand Champions condos for sale…
155 WAILEA IKE PL #138
155 WAILEA IKE PL #6
155 WAILEA IKE PL #171
155 WAILEA IKE PL #48
155 WAILEA IKE PL #21
155 WAILEA IKE PL #29
155 WAILEA IKE PL #168
155 WAILEA IKE PL #34
Wailea Ekahi sales in 2012
- Number of sales:Â 13Â (up from 8 in 2011)
- Total sales volume:Â $9,275,500Â (up from $5,501,000 in 2011)
- Average sale:Â $713,500Â (up from $687,625 in 2011)
- Price per square foot:Â $809.94(up from $701.88 in 2011)
Wailea Ekahi is the most affordable Wailea beachfront condo community and the number of sales increased from 8 to 13 and the average sales price climbed 3.76% to $713,500 for 2012. Here’s a recap of the three recently updated Wailea Ekahi condos for sale…
3300 WAILEA ALANUI DR #36D
3300 WAILEA ALANUI DR #43B
3300 WAILEA ALANUI DR #48E
3300 WAILEA ALANUI DR #33D
3300 WAILEA ALANUI DR #45C
3300 WAILEA ALANUI DR #21B
3300 WAILEA ALANUI DR #5D
3300 WAILEA ALANUI DR #1E
3300 WAILEA ALANUI DR #38D
Wailea Ekolu sales in 2012
- Number of sales:Â 11Â (up from 7 in 2011)
- Total sales volume:Â $7,347,125Â (up from $4,400,000 in 2011)
- Average sale:Â $667,920Â (up from $628,571 in 2011)
- Price per square foot:Â $614.81(up from $492.38 in 2011)
Wailea Ekolu stands out with a significant 6.26% increase for the average sales price which came to $667,920 for 2012. Here are three updated listings for Wailea Ekolu condos for sale…
10 WAILEA EKOLU PL #1603
10 WAILEA EKOLU PL #1207
10 WAILEA EKOLU PL #909
10 WAILEA EKOLU PL #1304
10 WAILEA EKOLU PL #1507
10 WAILEA EKOLU PL #304
