Hansen Ohana Quarterly Newsletter

Aloha All,

It is time again to update you regarding what the real estate market is doing and also to ask you to mark your calendars to save the date of December 7th for our annual Holiday Toy Drive.

Regarding real estate activity, the US Mainland seems to have leveled off in its decrease in sales although the majority of areas continue to see modest increases in prices.  The vast majority of economists continue to predict that the market will continue to slowly but steadily increase, but at a much more sustainable pace (3% or so).  The really good news is that the FED’s continue to predict no interest rate increases from them for the rest of the year.

Inventory on Maui is still shrinking as new listings decreased 1.7% for single family and 1.5% for condos.  In addition, Single Family inventory decreased 14.6% and Condos decreased 11.4%.  Median Sales Prices increased 3.4% to $750,000 for homes and increased 7.2% to $552,000 for condominiums.  Less inventory could mean upward pressure on prices in the long run.

Luana Garden Villas at Honua Kai pre-sales continue to be strong – over 90% are now under contract and construction is well under way.  The majority of construction of Kalama Kai in Kihei has reached completion and occupancy of units has begun.  D.R. Horton is currently offering new construction homes in Wailuku with some interesting incentives.  They are 2 story, with 3 or 4 bedrooms and priced between $667K-$721K.  Towne Island Homes also has some completed properties available in the mid $600’s.  We have some exciting listings in Wailea, Kapalua, Kahului, Kihei, Pukalani and Haiku ~ homes, condos and vacant land.  Just to mention a few locations: A Wailea Kai best buy, a Haiku home on 2 acres and a Maui Meadows home and Ohana, plus so many more all over the Island.  Be sure to check all the featured listings on our website www.MauiRealEstate.net   Our office features agents that specialize in different areas of Hawaii.

Important notice:  Tune in for more information regarding Hawaii’s economy either by listening to Clint Hansen’s radio program at KAOI 1110 AM where he will be interviewing Paul Brewbaker, Hawaii’s respected economist or go to mauirealestate.net/radio or MauiRealEstate.net/mauirealestateradio for the audio or written version.  Clint’s radio program is every Monday at 7:00 to 8:00 am and covers different aspects of our real estate.

Please give us a call for updates for your specific area.  We are here to help.  Following are our numbers.

Wishing you a fantastic summer,

Clint, Donna, and Bob

Clint Hansen, R(B) 808-280-2764 ~ Donna Hansen, R(S) 808-280-1650 ~ Bob Hansen, R(PB) 808-283-9456

The Hansen Ohana

Maui Luxury Real Estate LLC

dad@mauirealestate.net

Maui Condo Prices Reach New Decade High

Condominium sale prices have reached a new high at a median price of $552,000 for June 2019. Active status Inventory for sale has reached an all time low and may indicate a seller’s market.

June inventory numbers dropped 14.6 percent for single family homes and 21.3 percent for condos compared to June 2018.

Median home sale prices rose 3.4 percent to $750,000 in June. The majority of homes sold were located in Wailuku. Majority of condos sold were found in Kihei with a median price of $550,000. Highest priced home sold was located in Kaanapali at $3.1 million. Highest priced condo was sold in Kapalua at $2,147,500.

If your interested in possibly buying or selling your home or condominium, call us today! We would be happy to assist you!

Dreams Come True In This Sugar Beach End Unit On Maui!

February 4, 2015

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Sugar Beach

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July Stats 2014

 

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The current market has remained stable.  Well priced properties are receiving multiple offers.  Sellers are getting their properties appraised prior to listing to prevent escrow fallout should any unforeseen problems arise.

For sellers to compete in a competitive market,  pricing properties realistically and having creative terms (seller second loan, sale with lease back, etc.), may give a property an edge in the selling market.

Many buyers are still taking advantage of low interest rates.  Getting pre-appoved can help a buyer feel more at ease during the home buying process.  First-time homebuyers may want to attend a home buying workshop to help give them the confidence they need before making a purchase.

The Hansen Ohana strives to keep you up to date with the latest in real estate news and events.  You can view more regarding July stats via Realtors Association of Maui here.

International Home Buying Activity

images The National Association of Realtors has published a report on international buyers in the United States after collecting information for a 12 month period. China, Canada, Mexico, India, and the UK were the top 5 countries for international buyers with 54 percent.  In a 12 month period ending March 2014, over $92 billion in purchases were made by foreign buyers.

The Hansen Ohana is experienced in working with international clientele.  We strive to bring you the latest news in the real estate market.  For more information on the international home buying activity, you can view the report via the National Association of Realtors here.