Over the last couple of years, the Maui homes for sale haves slowly began to appreciate their once lost value. The Maui market tends to lag 6-8 months behind the west coast of the US mainland. Since our market lags a little behind, many domestic and foreign investors are jumping on the great buying opportunities. The market value for Maui Real Estate is attractively priced relative to other major resort destinations around the world. It’s also still a good time for first time home buyers..but not for those who drag their feet. I’ve had several clients (looking to purchase their first home) miss out recently for over thinking the process. There are many cash investors on the sidelines ready to jump on the deals when they hit the market. You’ll get outbid before you can blink an eye.
411 Polulani Drive, Wailuku Heights, Recently Sold for $784,000
With so many people turning to the Maui Market, there is still time to act and purchase a deal before it’s too late. The rising mortgage rates and the influx of foreign investors are encouraging local residents to act more quickly than some might prefer.
Unti: 2611, Wailea Palms, Recently Sold for $615,000
The average single family home prices on Maui (compared to same time last year) rose 10% from $719,600 to $794,079. The most gain was in the Maui condo market as the average price rise rose 17% from $465,649 to $544,354.
4374 Wailina Street, Wailea Golf Vistas, Just Listed for $4,500,000
According to the Realtors Association of Maui, “Well priced properties are attracting multiple offers making for a quick sale. Inventories have declined 11-14% over the past 12 months in Residential and Condo classes. Maui REO (Foreclosures) and Short Sales are dwindling, with any “hidden inventory” (or overhang) backlog slowly trickling onto the market.”
22 Ualei Place, One Palauea Bay, Sold by the Dano Sayles Team for $5,000,000
Wailea Real Estate for sale saw the most appreciation in value as the average sales price rose 61%. However, the most impressive statistic is the total dollar volume of real estate. The Wailea market is up 99%, from $39,198,500 to $77,897,499.
I have seen first hand how hot a specific market can get. Within the last four weeks, the market saw FOUR Kai Malu units sold, all were over $1Million.
100 Kai La Place, Kai Malu, sold for $1.3Million
With prices creeping up, it’s time to act now. There are still amazing properties that are under priced, but they won’t last long. I am here to ensure that I can find you the best deal possible.
Contact a Maui Real Estate Specialist
For more information on Maui Real Estate, please contact me for a private showing.
Mahalo,Anthony Sayles R(S) 808-280-6532 Email: Anthony@DanoSayles.com