We are proud to have represented our 2nd resale transaction in the Keala O Wailea community and were pleased to bring a 3 bedroom, 2 bathroom, and 1300+ sqft unit to market in the middle of June. We held the list priced firm throughout its entire time and were happy to have stuck to our guns. Part of the reason we were able to command a strong list price was the units location. Building #4 is arguably one of the best buildings in Keala O Wailea as it is closest to the pool and community club house area. Having the back lanai right off of the pool creates nice buffer before coming in the house soaking wet.
A perk of a ground floor unit is the 240 sqft lanai that is just off of the main living area. From the lanai are wide open views over Wailea and beyond towards West Maui and the pacific ocean. The 2 sliding glass doors off of the main living area perfectly frame the ocean views and blurs the lines between indoor/outdoor living. Developed by Armstrong Builders, the level of craftsmanship is excellent as the high energy-efficient stainless steel appliances in the kitchen and the white cabinetry complement the clean and contemporary design.
After a 6 week escrow, we are happy to have sold our clients property for 98% of list price and close for $1,557,500.
On-site amenities at Keala O Wailea include an impressive community center along with epic views of the Wailea coastline. There’s a brand new exercise room on-site, along with a spacious pool, and a covered pavilion area. The fully equipped community kitchen area and barbecue facilities are the perfect place for entertaining your friends and family.
Nearby are all of Wailea’s many resort amenities, including first-class restaurants, 3 championship golf courses, tennis facilities, and miles of white sandy beaches and ocean recreation.
Keala O Wailea Market Update 2018
While there have technically been 65 closings in Keala O Wailea YTD with a running sales volume of just over $82 million, most of the sales have been from the original develop offerings and may not necessarily depict the unit’s true value. With that being said, we will take a look at the resale transactions so far in 2018.
With 6 resales so far in the community, some buyers have been quick to pull out there money and realize their returns. Some have faired better than others, but all have been able to walk away with a positive return on investment. The resale market has done a little over $9 million in running sales volume and can improve with a few more resales sitting in escrow.
So far, sales have been across the board with a $1.3 million range separate the highest priced unit sold and the lowest. On the resale market, buyers should expect to pay around at least $1000/sqft and as high as around $1300/sqft.
- Number of Keala O Wailea condos sold: 6 (resale transactions only)
- Average sold price: $1,523,733
- Highest priced unit sold: $2.3 million
- Lowest priced unit sold: $999,999
Consisting of only 70 units in total, Keala O Wailea is the latest trend in Wailea living; a low density community that enables the developers to really maximize the privacy for each unit and building cluster.
With over $9.5 million in inventory in just resale units, buyers have a choice between the remaining original developer offerings and what is for sale on the resale market. The market is most heavy in the lower to middle section as their in only 1 active listing priced above $2.3 million.
According to the listing data, price/sqft varies from $1000-$1300.
- Number of active Keala O Wailea condos for sale: 6
- Average asking price: $1,588,000
- Highest priced listing: $2,350,000
- Lowest priced listing: $1,288,000
Contact South Maui Real Estate Specialist
Please interview me to be your trusted Maui Real Estate and Lifestyle Advisor. I was born and raised on the island, and spend a considerable amount of time to inform my clients about the best deals currently on the market. Please do not hesitate to call me for your Maui real estate needs. I am more than happy to assist you in your home search.
We are also on-site real estate team at the Ho’olei villas, we are open from 9AM-5PM daily, so feel free to stop by anytime. Also, see a full list of Wailea condos for sale and Makena condos for sale.
Aloha,Anthony Sayles R(S) Anthony@Danosayles.com 808-280-6532