Kapalua Maui Real Estate Market Update: Changes from 2009 to 2010
The Kapalua Resort Real Estate Market has seen a substantial increase in sales activity in 2010 over 2009, both in the residential and condominium neighborhoods. A breakdown follows for each:
Kapalua has five residential communities: Pineapple Hill, Pineapple Hill Estates, Plantation Estates, Honolua Ridge and Kapalua Place. The residential market has seen substantial activity over the past month. There are currently 20 listings and three pending sales. List prices range from a low of $2,200,000 to a high of $12,900,000. Comparing 2010 with 2009, we have had 10 sales this year, vs. 5 last year. The average sales price in 2010 of $3,467,500 was over 50% than the average sale price in 2009, $2,260,000.
The Kapalua Resort’s condominium communities include the Bay Villas, Ridge Villas, Golf Villas, Ironwoods, Coconut Grove, Ritz-Carlton Residences on Kapalua Bay, and the Residential Suites at the Ritz-Carlton Kapalua. There are currently 87 listings and five pending sales. List prices range from a low of $474,000 to a high of $5,200,000. Comparing 2010 with 2009, the number of condominium sales increased from 19 to 25. While average and median home sales prices increased, condominium sales prices decreased in 2010 (median (-12%) and average (-19%)).