Category Archives: Maui Real Estate Statistics
Aloha, Happy New year Everyone!
Here’s the latest for each of the Hawaiian Islands market activity.
Big Island –
The Big Island had some great sales action last year!
-Sales in 2011 increased across the board compared to 2010.
Single Family Homes: +7.29%
Vacant Land: +15.56%
This could be contributed to the overall median home prices dropping 5% from 2010, and condo prices decreasing 19% from 2010. 2011 was a great year to get some great bargains on the Big Island.
-In the luxury market there were 4 home slaes over $10 million. The 2 highest sales, at $16.95 million and $12.25 million were in the Hualalai Resort.
-Between the price range of $5 million to $10 million, there were 18 properties sold and 16 of these were in the Kukio or Hualalai Resorts.
- During December, sales of 268 single-family homes and 333 condominiums were reported through the Board’s MLS, a decrease of 14.1 percent for SF and 6.5 percent for condos compared to the same month 2010. This brings total single family homes sales on Oahu to 2,974 for the year of 2011, a decrease of -2.7% over a year ago. Total condo sales through Dec was 4,029, a 1.3 percent increase from last year.
- Median Prices for single family homes saw a 3.4 increase to $605,000 and a 6.5 percent for condo’s to $285,000 from last year.
- The supply of single family homes dropped an average of -10.1% and -9.2% for condominums below inventory supplies of 2010.
- Multi-million dollar market sales for
Dec 2011 – 34 Properties
January 2010 – 23 Properties
January 2009 – 13 Properties
-The world news was that Tiger Wood’s ex-wife demolished her home in Florida, but here on Oahu, the famous Sony house on the 7th tee of the Waialae Country Club will also be bulldozed after being bought for $13.85 million.
–: Residential unit sales rose 10% from 2010 to 2011. The average sold price for 2011 was$787,552 (+5%), median price = $433,500 (-6%) and total dollar volume sold = $707,221,757 (+16%).
- Condo unit sales increased (1%), average sold price = $485,874 (-25%), median price = $310,000 (-18%). Total Condo dollar volume sold = $561,184,549 (-28%).
Sales of Maui Oceanfront and Beachfront homes have reached a new high. During the month of September 2011, three homes traded hands, with sales prices ranging from $3 million to $13.8 million, and all of these were all cash transactions.
The highest sales in 2011 were in Wailea and Makena for $27M and $14M respectively. There were a mix of Canadian and American Buyers for the 15 Oceanfront homes that were sold on Maui as of October 10, 2011.
-Will Smith sells Kauai Estate for $20,000,000
Everyone likes round numbers, but what a sale for Will and Jada Smith! They sold their Kauai Estate of 7.5 acres for $20 million dollars this month. Though the property was not listed at the time, a determined buyer from Europe was able to persuade them with a $6.5 million dollar profit though they have only owned the land for two years. And rumor has it that Julia Roberts purchased the Faye Estate on Hanalei Bay for just under $14 million dollars.
Overall – It is nice to see big money moving back into the market. Despite the media doom and gloom, the economy is recovering and folks are starting to buy. Christmas spending was up over last year and hotel occupancies look good into the new year. 2012 will be a much better year for real estate than 2011
All islands are experiencing more activity. Prices remain flat but inventory low with demand increasing. It’s a great time to sell with buyers back in the market but also a good time to buy with prices not at the levels back in the height of the market.
If you or any of your friends or family need any real estate help here on Oahu or on the other islands, I co-broker with some excellent Maui, Big Island Hawaii and Kauai Brokers. I look forward to seeing you in Hawaii.
Me ke aloha pumehana,
Caron B Realty International 3555 Harding Avenue, Suite 2A, Honolulu, Hawaii 96816
Call or Text – 808-286-5256 – Direct / 808-593-9826 – Office
Tel: (808) 593-9826 Fax: (808) 593-9827 Email: firstname.lastname@example.org