The focus of my Newsletter has always been geared more towards buyers than sellers. That stems from the fact that my data base is primarily derived from prospective buyers to whom I have shown property over the years or have somehow indicated an interest in owning Maui Real Estate someday. It occurs to me, though, that often time’s buyers have to be sellers before they can be buyers.
A recent analysis by ATTOM Data Solutions—a multi-sourced national property data warehouse for over 155 million US properties—reports that 19 of the 20 best days to sell a house all year occur in May and June. The majority of those days fall in June, so there’s still time!
Not only are the most home sales recorded in June, but the median price point is the highest, as well. And, as a point in fact, I seem to be meeting with more and more buyers who are looking to relocate to Maui—not just a second home. Perhaps this is a timely bit of information for you.
We often speak of median home prices as the yardstick by which to measure current market conditions. Again, “median” is different than “average” in that it represents the price point right in the middle of all sales based on the price of the home or condo in the exact middle of all sales. In other words, if 99 homes sold, the price of home #50 would become the median price point. Statistically, the “average” is usually not far removed from the median price, for what it’s worth. In either case, factors such as sample size, numerous sales in a high or low end subdivision, or one or two homes at the very top of the market can skew these numbers.
I mention all this because our median home price recently passed the $800,000 mark for the first time. While month-over-month, or even year-over-year statistics can be somewhat misleading, one can look back over the past several years on Maui to 2010/2011 to see a steady, consistent increase in median home prices. Point is, unless something unforeseen occurs, the longer you wait, the more you will likely have to pay to own Maui Real Estate.
So let’s take a look at a couple of properties at that $800,000 median, then a couple at what double the median can buy.
Here are this month’s Featured Properties:
MLS #382353 —Don’t let the photos of the lawn fool you on this one. The home has been beautifully remodeled and is awaiting your best offer. Great south Kihei neighborhood and a special outdoor pergola in the backyard to enjoy a cool beverage on a sunny Maui afternoon. $798,000!!!
MLS #383072—Cute, private, homey. Hawaiiana at its finest. Close to parks, restaurants, and shopping with some of south Maui’s favorite beaches within walking distance. Not ready to make the big move? Then make the cozy little 1BR detached cottage your own and rent out the 3BR house to pay the mortgage! $799,000!!!
MLS #382685—Wailea anyone? Located in one of Wailea’s most revered gated communities this 3BR/2BA spacious single-level home has it all, including heated pool and large patio/entertainment area. Be the proud owner of this one. Sold fully furnished. $1,598,000!!!
MLS #380730—Ok…if you must have arguably the best ocean view in all of Maui, then check out this 7th floor elegantly remodeled and fully furnished oceanfront condo at the gateway to Wailea. Make life easy; no lawns to mow, pools to clean. Top-of-the-line restaurant, fitness facility, and yoga studio on premises. Recently reduced. $1,590,000!!!
Click here for complete May Statistics.
Once again it’s that fabulous time of year when the Maui Film Festival blesses residents and visitors alike with its presence. Having long since established its niche amongst the hallowed Film Festivals in the world, ours here on Maui has a feeling of intimacy, spirituality, and cultural significance second to none. Now in its 20th year, my first experience of the festival was in 2004 when my friend and I boarded a Roberts Hawaii tour bus, beach chairs in hand (actually in lap) and journeyed to the now iconic outdoor theater under the stars. The feature film that night was the adaptation of Nicholas Sparks’ The Notebook. I sat there hoping my date wouldn’t notice the moisture building in the corner of my eyes as I watched this classic tear-jerker.
All these years later, I still enjoy this galactic experience. As times have changed, I now make dinner reservations at the adjacent Gannon’s restaurant, which includes parking passes and a private seating area with high-back chairs for movie watching. A true Maui experience; life is good!
Please enjoy. If/when the time is right it would be my joy to help you realize the dream of owning a piece of Paradise.
A hui hou (‘til we meet again),