During the 2nd half of 2019, there were 9 sales. There were 4 properties in escrow at the end of the six months. There was 1 expired and 1 cancelled listing.
The market for Kaanapali Shores condos is still hot! During 2019 there were 16 units sold compared to 33 sold in 2018. You're probably thinking, "If Kaanapali Shores is so hot, why didn't you sell more condos?" In a word - inventory, or in 3 words - lack of inventory.
In all of 2019 there were fewer than 33 condos listed for sale The median selling price is up and the number of days on market is down significantly. The median days on market for the current active fee simple units is 21 days. If there were more units for sale in 2019, there would have been more sales.
So, what did the stats look like in 2019?
Prices are still moving upwards. Of the active listings on 12/31/19, 3 are fee simple and 4 are leasehold.
Of the 16 sold units in 2019, 10 were cash sales, 4 were 1031 exchanges, and 2 closed with conventional financing. Here's the breakdown for units sold:
2020 is bound to be an interesting year, and we wish we had a crystal ball. Overall condo sales on Maui have remained about even with last year (about 20% below last year) in spite of continuing low inventory levels. We are approaching record prices. So, whether you're considering selling or happy with your investments and looking forward to years of enjoyment to come, we'd love to hear from you. Remember we have our office on the ground floor near the gym, so stop in and talk story when you're on property.
For more information reach out to any of the team at the Kaanapali Shores Team.
L. Lee & Barbara Potts, R(B), RSPS, ABR, SRS (808) 276-8776, email@example.com
David T. Barca, R(S) (808) 357-0958, firstname.lastname@example.org
Gina M. Parola, R(B), RSPS, ABR, SRS (808) 870-2525, email@example.com
Robert J. Cartwright, R(B), CRM (808) 661-8777, firstname.lastname@example.org
We would be honored to represent you with a purchase or sale of a condo at Kaanapali Shores.
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.