In May, ten condominiums were sold in the Wailea-Makena Maui real estate market compared to twelve a year ago. Of those units, six were in oceanfront complexes and four were in mauka complexes. The median sale price of $1.423 million was lower than April but still higher than 2007 averages. The per square foot average, a better indicator, of $1077 also down compared to April and 5% lower than 2007 results. For Wailea oceanfront complexes, the median sale price of $1.438 million  per square foot average of $1288 were both down considerably from 2007 averages. The mauka, or non-oceanfront,  complexes had a median sale price of $1 million and a per square foot average of only $762, again down from 2007 averages. With over 180 condominiums listed for sale, the Wailea condominium market remains sluggish.

The Wailea home market fared a little better with four sales. he median sale price of $2.4 million was significantly higher than 2007 numbers but the per square foot average was approximately flat to 2007. here was no neighborhood concentration of sales and the quality of the ocean views was mixed.

As always, one month worth of numbers offers so few data points that conclusions must be only tentative. For details, contact us!