After less than two weeks on the market, Ho’olei Villa 15-3 went into escrow on Feb 25th. This is the second Wailea Condo listed over 2 million to go pending in 2013, which is a great indicator that the real estate market is picking up in South Maui.

National Association of Realtors Chief Economist Lawrence Yun explains: “Favorable affordability conditions and job growth have unleashed a pent-up demand. Most areas are drawing down housing inventory, which has shifted the supply/demand balance to sellers in much of the country. It’s also why we’re experiencing the strongest price growth in more than seven years.”

It is very likely that we may be entering into a “seller’s market” in the near future. The overall housing inventory in the Unites Sates has hit a 13 year low. Low interest rates and limited housing inventory has created a feeding frenzy amongst buyers for homes that are priced correctly.

There has always been a limited supply of Wailea Real Estate. The tourist industry in Hawaii is rebounding to record highs, which is encouraging real estate investments across the state. All economic indicators are pointing towards another boom cycle in the islands.