Let's take a brief look at the current market by reviewing various metrics.
First, let's compare the average price per square foot at Moana Estates, versus that of single-family homes in Kihei. See below. Both segments have dipped over the previous year but Moana Estates has suffered a slightly bigger decline (-8.7% versus -6.4%)
But let's take a look at another metric which may provide more context, the Median Sales Price. In 2017, there was a very pronounced shift over the previous year for both segments, with Moana Estates going down 11% to Kihei going up 11%. But 2018 has been a completely different story, with Kihei up less than 1% while Moana Estates sees an increase of over 10% over the previous 12 months.
Take a look at the map below to better gauge where recent sales have been located within the subdivision. One can ascertain that the homes on the outside perimeter (with some variations allotted) sell at a higher price per square foot.
Lastly, one of the first questions a Seller has is: How quickly can I expect it to sell? So with that, let's take a look at Days on Market, a metric which also encompasses time in escrow necessary to close out the transaction - this can vary widely depending on specifics of a sale (i.e. how long the inspection period is, how long to get financing in place, etc.).
In short, the neighborhood is and will continue to be one of the premium residential subdivisions in the Kihei real estate market, due to its superior build, elegant design, and premium location. Take a look at current inventory below and contact us to discuss Moana Estates and its respective place within the overall South Maui real estate market.
Maui Real Estate Advisors LLC
Maui Luxury Real Estate LLC
Coldwell Banker Island Prop(P)
Wailea Realty Corp.
Keller Williams Realty Maui-Ki
Specializing in Makena and Wailea real estate, Alex Cortez is fully dedicated to representing his clients ethically and diligently. Contact him at 808.385.5034 or Alex@MauiRealEstateSearch.com for more information.
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