There was a villa that sold at Keala O Wailea this week for $2.26m which was $20k over the list price. This same unit sold for $1.24m in June of 2020. While the sellers had done some meaningful upgrades (I would guess they put in about $100K into the unit), they also made over $1m in just 14 months which is some serious return on investment.
While not everyone on Maui has made an easy $1 Million, our average condominium prices and single family home prices are up well over 30% in the past year. If you sold your home on Maui from April-September 2020 thinking prices were going to tank, you are probably kicking yourself now.
There have been 11 sales at Keala O Wailea year to date with an average sales price of $1.94m and an average price per square foot of $1,304. We have many clients who own in this fine community, and our entire team has always been big fans of the builder Armstrong Development who is also building Makali’i across the street from the Fairmont Kehalani.
The Keala O Wailea community also offers convenient access to the Wailea Gateway Center which is less than a 5 minute walk away. Perfect for lunch, happy hour, dinner, or anything in between. Our team’s go to options are Monkey Pod and Pita Paradise, both of which focus on offering local and organic ingredient for the perfect taste of Hawaii.
Wailea Real Estate Market Snapshot
The overall inventory for quality homes and condos for sale in the Wailea Resort are still at a record low. There are only 6 Wailea Condos For Sale and 8 Wailea Homes for sale as of September 22, 2021. These properties range from about $1M-$10M.
Looking at the overall inventory of condos for sale in all of Maui County, there are only 124 available listings! This time last year, there were about 750 condos for sale on Maui which is equal to about an 85% reduction in the number of properties for sale.
The Sayles Team’s Commitment
There is no time like now when it comes to selling your property on Maui. If you are waiting to sell because you think the market will continue going higher, you might want to reconsider. Our team has been collectively selling real estate on Maui for over 150 years and this is arguably the best time to sell. It is however pretty much impossible to sell at the top or to buy at the bottom of any market.
Our team has helped hundreds of families sell their homes in nearly every neighborhood on Maui. Regardless of the community, no matter the home, our team can help identify and procure a buyer for your property. We have fine tuned our marketing plan to a well arranged combination of internet marketing, 3 dimensional Matterport tours, print media, direct mail, and a highly developed networking system of the top agents from around the world. Not to mention our vast database of past clients and referrals from past clients year after year. Call today and learn more about how our energy and experience gets results.
Anthony Sayles R(S)