What has sold on Maui in the last 30 days

Aaah yes, the cold, hard facts of Maui Real Estate are best summarized in what has actually sold in the last 30 days.

A little research for the island over the last 30 days shows 75 Single Family Residence (SFR) and 89 Condominium sales. Of the 75 SFR sales, 59 (78%) were below $ 895 000, most of which were below $ 650 000. There are 10 (14%) sales between one and two million, and 6 (8%) were above two million. Two of the top three sales were in Kapalua, and the third in Makena. The list price vs sales price for these three properties is as follows: Kapalua listed for $ 4.5 million, sold for $ 3.6 million, Makena listed for $ 8.3 million, sold for $ 6 million, Kapalua listed for $ 15.9 million, sold for $ 12.5 million.

Considering Maui's 89 Condo sales in the last 30 days, 70 (78%) were below one million, 11(12%) were between one and two million, and 8 (10%) were above two million. The top two sales were both in Wailea. A Wailea Beach Villa's listed for $ 4.5 million, sold for $ 3.75 million, and a Wailea Point unit listed for $ 10 million, sold for $ 8.973 million.

With the Fed cutting rates by a 1/2 point today, I hope investors will re-gain their confidence and resume purchasing jumbo loans. With the jumbo loans being bought, interest rates for these higher loan amounts should return to the 6% range, which could serve as the basis to move the $ one -two million market.

Aloha,
Peter Slate R(S)
Haiku Properties