This week the Maui News put out a good article summarizing the Maui Real Estate market. They stated that our market is more or less flat, as opposed to declining. Average condo prices are up 4%, while single family home prices are down just 1%. This is not surprising to those of us who are lucky enough to live in this wonderful island paradise. They're not making any more Maui, so what we have is very much in demand. Please read this article for a Market Snapshot of average home prices and inventory numbers.
Another member pointed me to a good article in Business Edge - a publication from Alberta Canada. This is a great time for Canadians to be spending their money on second homes that they can use for vacations and possible retirement locations.
There are many luxurious new developments underway on Maui, and interest is still high. Baccarat is making Wailea Maui one of their destinations, with an oceanfront hotel and residential resort that will be like nothing else we have seen so far. Numerous residential condo subdivisions are now available for purchase, where you can own a single family home without all the maintenance issues, as your homeowner association will take care of the pool and landscaping for you. This makes a great alternative to owning a traditional condo, for those who want a more homey feeling in their "home away from home".
I'm confident that Maui will continue to provide good opportunities for buyers and sellers who are looking to buy a home or condo that they can use and enjoy for many years to come.
How do you like that view overlooking the Wailea Blue golf course? This was taken from the Wailea Fairway Villas. Call me for more information about Wailea condos and homes for sale on Maui.