Wailea Homes Sales Update

Posted by Alex Cortez on Tuesday, April 9th, 2013 at 10:45am.


Single Family Residences - Sales Update

By most metrics and anecdotal evidence by real estate professionals who specialize in the Wailea real estate market, with decreasing inventory and maintained buyer demand, values are on the rise and can presumably remain as such. But just how much have prices increased (if at all) over the previous years?

First, let us take a look at median and average sales prices. Median prices are the more reliable of the two subsets as they are less likely to fluctuate due to comparatively large or small sales.


As one will easily note, both the average and median jumped approximately $1M from 2012's sales to 2013 through 1Q. However, average and median sales prices do not provide the best bird's eye view of the market as these can fluctuate due to particularly large homes (i.e. 4K square feet) selling at a clearly higher sales price. So with that, let us take a look at prices per square foot for (arguably) a better perspective of values.


It then becomes more evident that values, as a whole, both supported by median/average sales prices and price per square foot is on a steady incline after several years of somewhat stagnant values - which were pressured downward by a total of 7 REO's (foreclosures/bank-owned) and 5 Short Sales, taking place from 2010 to 2012. And with today's inventory showing a total of 19 homes active for sale and 7 pending (only 1 Short Sale in those 26 listings), it is reasonable to expect the Wailea real estate market to sustain its momentum. But even in a relatively small market such as Wailea, there are micro-markets (i.e. Wailea Kai vs. Wailea Highlands) so please contact us for a private consultation

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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