Aloha from your resident experts!
From October 1 - December 31 there were 10 listings and 3 closed sales. There was 1 cancelled listing and 0 expired listings at the end of the quarter. There were 6 pending sales and 0 active listings at the end of the quarter.
Sales activity and demand for units at Aina Nalu remain strong, with some units being sold before they were listed on the MLS. There are no units for sale at this time.
The average number of days on market for Aina Nalu listings in Q4 was 65, which includes time in escrow. This compares to the average days on market for all condos sold on Maui in Q4 of 155.
Units sold in Q4 included I101 at $559,000, B107 at $560,000, and D103 at $575,000. All are downstairs 2-bed, 2-bath units.
List prices for 2-bed, 2-bath units in Q4 ranged from $569,000 to $599,000, so prices continue to inch upward.
During the year 2019, there were 21 Aina Nalu units sold with an average days on market of 61. Sold prices were in the following ranges:
As you would expect, the lower prices were early in the year.
Continuing low interest rates and strong tourism on Maui have contributed to the strong buyer demand.
2020 is bound to be an interesting year, and we wish we had that crystal ball. We do know that overall condo sales on Maui have remained about even with last year (about 20% below last year) in spite of low inventory levels. Prices seem to be holding, if not increasing in specific areas.
For further information, contact Lee Potts at email@example.com or (808) 276-8776 or Barb Potts at firstname.lastname@example.org or (808) 344-5008.
Aloha Group Maui is a team headed by L. Lee Potts, MBA, REALTOR® R(B) and Barbara S. Potts, MBA, REALTOR® R(B) and former California CPA. We are business people, and we treat our clients with the same care and service attitude that we would like to receive when we do business – and we do it with Aloha! We are in business for pleasure and profit. We expect that most of our clients will enjoy the property they own in Maui (pleasure), and it would be nice for everyone if your property performs well for you (profit). Real estate can be highly speculative, and profits are never guaranteed. So if you are buying property in Maui, it’s a good idea to surround yourself with Real Estate Professionals.
Lee Potts holds an MBA and was the President of an international software company. He was also the Marketing VP of a publicly traded company, and has been investing in real estate since right out of college.
Barbara Potts holds an MBA, was a CPA with Ernst and Young, held a financial management position at Apple, was Director of Strategic Marketing for Grass Valley Group (a division of Tektronix), was a business broker in California, and has always been a real estate investor.
We would be honored to represent you with a purchase, sale or 1031 Exchange of Maui real estate. If you’re in Lahaina Town, stop in and see us - our office is across the street in Dickenson Square, in Suite 212.
Copyright 2019 L. Lee & Barbara S. Potts
Statistical information in this newsletter is based on actual sales information reported to the Realtor’s Association of Maui, Inc. While this information is deemed reliable, it is not guaranteed. This newsletter is for informational purposes only and not intended as advice for investment or any other purposes. Real estate is considered to be highly volatile and purchasers and sellers of real estate should always seek expert outside advice before investing.