Whalers Realty map
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Whalers Realty map
June 2012 Dear Homeowner, Aloha! Enclosed please find my market update for The Maui Kaanapali Villas. The first part of my report deals with the condominium market island-wide on Maui. I then focus on the condominium market for the entire Kaanapali Resort. For these reports, I will apply the data from the year to date sales statistics comparison report provided by the Realtors Association of Maui. The sales statistics provided by RAM compares the condominium market for the entire island of Maui for the first five months of 2012 with the same period in 2011. The statistics show that unit sales volume is exactly as it was last year with 544 closed transactions. Sales prices were mixed, while the average sales price is down 9%, the median sales price is up 6%. The median is a better gauge for average can be distorted by a few sales on the upper or lower end of price spectrum. As for the statistics for Kaanapali, we again compared the number of sales for the first five months of 2012 with the same time frame in 2011. Here the statistics reveal a much different story. Unit sales volume for condominiums in Kaanapali experienced an increase, up 22%. Unfortunately, the picture is not so bright for sales prices. The average sales price for condominiums in Kaanapali is down 32% and the median sales price has decreased by 30%. The decline in sales prices in Kaanapali is primarily due to the heavy discounting continuing to take place by the developer of the new Honua Kai condominium. As for the sales data for MKV specifically, I switch from a YTD comparison to comparing the sales statistics with those that I provided to you in my December 2011 update. The number of closed sales has improved by two with seven sales recorded. The Maui Multiple Listing Service reports that with 306 real estate companies on Maui, Whalers Realty participated in 71% of all closed sales at Maui Kaanapali Villas! Although sales volume is up, as with the Maui market in general, sales prices were mixed. The average sales price is down 14%, but the median sales price is 16% higher than in December. Again, the median is the better gauge. The number of properties being offered for sale at the MKV has declined from 14 in December to 11 currently. When considering adding to your investment portfolio, or when you have decided to place your property on the active market for sale, please remember to “Ask for the Best” and allow Bob & Tess Cartwright and the crew of professionals at Whalers Realty Inc. to assist you. Please stop by one of our offices, send us an E-mail, or call us, our contact information can be found below. Sincerely, Robert J. Cartwright, R® (B) Principal Broker, CRB P.S. If your property is listed with another Realtor, this letter is for informational purposes, and not intended to disturb that relationship. We cooperate fully via the Maui Multiple Listing Service. Maui Kaanapali Villas Report Date: June 2012 For Sale December 13, 2011 to June 19, 2012 Unit # WR WR Bed/Bath B229 C155 C255 0/1 0/1 0/1 List Price Banyan Building Coconut Building Coconut Building Total of: 3 WR WR A218 A517 0/1 0/1 Aloha Tower Aloha Tower 0/1 Emerald Building $469,000 FS A409 1/1 Aloha Tower $414,500 FS A403 1/1 Aloha Tower $354,000 FS A404&A405 2/2 A110 1/1 Bedroom unit(s). Average List Price of: $384,250 Aloha Tower Total of: 1 WR FS FS 0/1 Bedroom unit(s). Average List Price of: $469,000 Total of: 1 WR $320,000 $398,000 0/1 Bedroom unit(s). Average List Price of: $359,000 Total of: 1 WR FS FS FS 0/1 Bedroom unit(s). Average List Price of: $374,650 Total of: 2 E188 $325,000 $399,000 $399,950 Tenure 2/2.5 $1,150,000 FS 0/1 Bedroom unit(s). Average List Price of: $1,150,000 Aloha Tower Total of: 1 $849,000 FS 2/2.5 Bedroom unit(s). Average List Price of: $849,000 Sold December 13, 2011 to June 19, 2012 Unit # WR WR Bed/Bath C151 B147 0/1 0/1 Sold Price Coconut Building Banyan Building Total of: 2 WR WR A217 A416 0/1 0/1 Aloha Tower Aloha Tower Total of: 2 WR A115 A311 A408 1/1 1/1 1/1 Aloha Tower Aloha Tower Aloha Tower Total of: 3 WR = Whalers Realty Inc. $350,000 $350,000 Tenure FS FS Sold Date 4/20/12 4/27/12 0/1 Bedroom unit(s). Average Sold Price of: $350,000 $270,500 $272,500 FS FS 1/31/12 4/4/12 0/1 Bedroom unit(s). Average Sold Price of: $271,500 $340,000 $360,000 $428,000 FS FS FS 3/23/12 2/1/12 4/18/12 1/1 Bedroom unit(s). Average Sold Price of: $376,000 Page 1 of 1 TO LAHAINA 45 Kai Ala Drive Lahaina, Maui, Hawaii 96761 Kaanapali Resort Whalers Village, Suite A3 2435 Kaanapali Parkway Maui, Hawaii 96761 (808) 661-8777 Toll Free (800) 367-5632 Fax (808) 661-8951 e-mail: [email protected] web site: http:whalersrealty.com Kaanapali Beach
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