2011 has been a good year for condo sales in Wailea with the average sales price increasing a bit over 2010 and the number of sales holding steady.
The highest condo sale in 2011 was Wailea Point Unit 102 which sold for $8M
There were 103 condo sales in Wailea for 2011, which is only 1 sale short from the total sales in 2010 (104 sales). For the entire Wailea condo market, the average sales price in 2011 has increased to $1,548,654 which is up 1.52% from 2010 (average sales price in 2010 was $1,525,521).
2 Bedroom condos saw the best value growth in Wailea
In 2011 the average sales price for 2 bedroom Wailea condos increased 4.44% to $1,267,963 (2010 was $1,214,081) and the average price per square foot increased 12.27% to $885.24/sqft (2010 was $788.51).
| 2010 | 2011 | Change | |
| Number of Sales | 40 | 44 | Up 4 |
| Total Sales Volume | $48,563,254 | $55,790,388 | Up 14.88% |
| Average Sales Price | $1,214,081 | $1,267,963 | Up 4.44% |
| Price/SF | $788.52 | $885.24 | Up 12.27% |
Sales prices decline for 1 and 3 bedroom condos
There were significant declines for sales of 1-bedroom condos and 3-bedroom condos, the charts below and compare sales activity between 2010 and 2011.
| 2010 | 2011 | Change | |
|---|---|---|---|
| Number of Sales | 24 | 11 | Down 13 |
| Total Sales Volume | $15,179,455 | $5,510,000 | Down 63.70% |
| Average Sales Price | $632,477 | $500,909 | Down 20.80% |
| Price/SF | $702.56 | $564.68 | Down 19.63% |
| 2010 | 2011 | Change | |
|---|---|---|---|
| Number of Sales | 36 | 45 | Up 9 |
| Total Sales Volume | $89,669,500 | $89,881,500 | Up 0.24 |
| Average Sales Price | $2,490,819 | $1,997,367 | Down 19.81 |
| Price/SF | $1,029.39 | $853.02 | Down 17.13 |
While the average sales price for 3 bedroom condos may be down by 19.81%, there is one community in specific that had great increases in 2011. The 3 bedroom Hoolei condos had more than a 21% increase in average sales price.
Wailea condos that sold well in 2011
Below is a brief list of condominiums in Wailea that saw an increase the the average sales price…
- Ho’olei had 10 sales. Average sale = $2,610,650 (up 21.61% from 2010)
- Kai Malu had 13 sales. Average sale = $1,027,615 (up 4.45% from 2010)
- Palms at Wailea had 7 sales. Average sale = $696,714 (up 7.72% from 2010)
- Wailea Fairway Villas had 6 sales. Average sale = $628,250 (up 12.09% from 2010)