July 2011 - Barry Brown Team
July 2011 - Barry Brown Team
July 2011 - Barry Brown Team
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August 7, <strong>2011</strong><br />
Aloha all!<br />
Attached are the Maui <strong>July</strong> <strong>2011</strong> Sales Statistics<br />
441 Ala Makani Place<br />
Kahului, Maui, HI 96732-3507<br />
Phone: 808-873-8585 ~ Fax: 808-871-8911<br />
Direct: 808-270-4646<br />
E-mail: Terry@RAMaui.com<br />
Brief Maui Statistics Overview:<br />
Pages 4 - <strong>July</strong>'s Sales Volume – <strong>July</strong>’s Residential Sales declined to 65 homes sold, while Condo<br />
Sales declined to 97 units sold. Land sales came in at 13 lots sold, same as June.<br />
Page 5 - <strong>July</strong>'s Median SALES prices – Home median prices declined to $410,001, while Condo<br />
median prices rose to $325,000. Land median price rose to $400,000.<br />
Page 6 - Days on Market for Residential homes = 144 DOM, Condos = 203 DOM, Land = 242 DOM.<br />
(General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD<br />
inventory sells, it can move this indicator upward, and vice versa. RAM's Days on Market are calculated<br />
from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days of escrow<br />
time.) Also – Short Sales transactions can often take 4-6 months to close thereby extending the<br />
marketplace’s average DOM.<br />
Pages 10 - 14 – "Year to Date Sales" numbers only compare January-<strong>July</strong> <strong>2011</strong> to January-<strong>July</strong><br />
2010. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends. 2010's<br />
Year End (Dec. 2010) figures are available at:<br />
http://www.ramaui.com/UserFiles/File/Stats/All-Dec2010.pdf<br />
Year to Date: Comparing January-<strong>July</strong> <strong>2011</strong> to January-<strong>July</strong> 2010 - Residential unit sales rose<br />
(+4%), average sold price = $780,238 (+2%), median price = $441,500 (-6%) and total dollar volume<br />
sold = $396,361,086 (+6%). This includes the bump up in sales last year due to 2009-2010 Federal<br />
Tax Credit programs and <strong>2011</strong> numbers may catch up as the year progresses.<br />
Condo unit sales increased (+1%), average sold price = $510,735 (-30%), median price = $325,000<br />
(-23%). Total Condo dollar volume sold = $379,476,462 (-29%).<br />
Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are<br />
not necessarily reliable indicators. Land lot sales decreased (-5%), average sold price = $620,277<br />
(+18%), median price = $330,000 (-27%), Total dollar volume = $50,862,751 (+13%).<br />
Also, total sales for immediately past 12 months: Residential = 835, Condo = 1,154, Land = 123.<br />
August 7, <strong>2011</strong> - Active/Pending/Contingent status inventory:<br />
Aug. <strong>July</strong> June May April Mar. Feb. Jan. Dec. Nov. Oct. Sept. Aug.<br />
Homes 871 869 917 935 958 964 953 963 974 976 1,001 981 994<br />
Condos 1,120 1,124 1,159 1,203 1,305 1,331 1,379 1,383 1,371 1,347 1,394 1,455 1,503<br />
Land 531 515 532 547 554 557 566 569 601 596 601 620 604<br />
Current Absorption Rate base on this month’s Active inventory divided by <strong>July</strong> Sales is:<br />
Residential = 13.4 months, Condo = 11.6 months, Land = 40.8 months (or 3.4 years).<br />
Overview Page 1 of 2
IN A NUT SHELL......<br />
the good, the bad….. AND THE ROAD AHEAD ……<br />
Strong buyer-showing activity is now evidenced in actual reported sales, with multiple offers competing for wellpriced<br />
properties. Inventories have declined 13-20% over the past 12 months. Many short sales and REO (bank<br />
owned) properties will need to be absorbed as sales before we can move ahead to a more normal marketplace.<br />
Interest Rates are remaining near historic record lows which may help motivate would-be Buyers to go ahead and<br />
buy IF they can qualify. Current World and US events will have ripple effects on cost of living, consumer<br />
confidence, and our Real Estate Market.<br />
FOR SELLERS: Sellers who don’t really need to sell (just “fishing?”) should stay off the market, and clear the<br />
marketplace for those who REALLY have to sell. UNLESS- you are motivated to Upsize, Downsize or<br />
Upgrade – While selling now will net less, your next property will cost less. Sharpen your pencil, talk to<br />
your CPA and Realtor® to explore the hidden benefits or consequences. Make no assumptions that will<br />
sting later.<br />
To be successful, Sellers need to beat competing properties with better property condition, REALISTIC pricing,<br />
good marketing, and flexible, creative terms (Seller Second Loan, Agreement of Sale, Lease-with-option-to-buy,<br />
and Sale-with-lease-back to seller). Days on Market figures show that properties priced right will sell in a<br />
reasonable timeframe. “Priced Right” is still the determining factor.<br />
BEST Deals are selling, everything else is getting old.<br />
Pro-Active Sellers are getting their properties appraised, inspected and surveyed in advance to encourage<br />
knowledgeable offers from realistic Buyers. This can prevent unanticipated escrow fallout or Buyers whittling your<br />
price down during the transaction when previously unknown facts come to light. Unrealistic Sellers continue to<br />
be ignored by the market and miss current opportunities that later become woefully apparent. They may even<br />
end up in a Short Sale or Foreclosure situation that could have been avoided.<br />
FOR BUYERS: Low interest rates may start to inch up. Buyers should get Pre-Approved so they can shop in<br />
confidence (fewer last minute disappointments due to non-funding loans).<br />
More "short-sales" and foreclosures are happening in the marketplace, yet they can be less of a bargain than they<br />
seem, requiring more hurdles to leap and more time (often 4-6 months) to close, if at all.<br />
Be prepared, but BE REALISTIC. Lenders are much more stringent on requirements for loan approval.<br />
First-Time Home Buyers – Many programs are available….. Attend a First-Time Home Buyers workshop, get<br />
familiar with the process, get qualified/approved, do your homework to get your own home. Many current owners<br />
never thought they would be able to own until they attended a workshop, discovered they could own a home,<br />
and are glad they did.<br />
This low point in the market is your rare chance, so check it out carefully.<br />
Disclaimer: Zooming in on the figures of a specific geographic area or property type may lead to different<br />
conclusions that looking at the overall view.<br />
Maui's market place is much smaller than Oahu's, and a few high or low sales have a greater effect on the<br />
statistical numbers without necessarily indicating a big market swing one way or another.<br />
For questions regarding today’s market, please call our RAM <strong>2011</strong> President, Sarah Sorenson at<br />
808-283-3969.<br />
If you have any questions regarding hard numbers, call Terry at 808-270-4646.<br />
Mahalo,<br />
Terry Tolman<br />
RAM Chief Staff Executive<br />
Overview Page 2 of 2
Single Family Monthly Sales Volume<br />
For Month Ending 7/31/<strong>2011</strong><br />
Area Name<br />
Current Month<br />
Units Volume Median<br />
Previous Month<br />
Units Volume Median<br />
Year Ago Month<br />
Units Volume Median<br />
Central 16 $6,547,551 $374,500 26 $9,479,388 $357,900 20 $8,856,800 $427,500<br />
Haiku 4 $6,141,000 $1,425,000 5 $2,625,000 $515,000 4 $3,129,000 $612,000<br />
Kaanapali 3 $4,435,000 $1,300,000 4 $7,070,000 $1,487,500 3 $2,620,000 $900,000<br />
Kapalua 2 $7,360,000 $3,680,000 2 $3,462,500 $1,731,250 1 $2,750,000 $2,750,000<br />
Kihei 13 $5,271,501 $385,000 12 $6,552,777 $496,889 7 $6,713,710 $700,000<br />
Kula/Ulupalakua/Kanaio 5 $3,389,000 $750,000 6 $4,310,000 $562,500 5 $6,924,100 $430,100<br />
Lahaina 4 $3,142,100 $841,050 2 $794,000 $397,000 1 $310,550 $310,550<br />
Lanai 3 $779,000 $270,000 1 $429,000 $429,000 0 $0 $0<br />
Makawao/Olinda/Haliimaile 3 $1,183,000 $293,000 7 $2,478,500 $335,000 4 $4,141,500 $470,750<br />
Maui Meadows 1 $740,000 $740,000 2 $2,153,250 $1,076,625 2 $3,839,900 $1,919,950<br />
Molokai 0 $0 $0 3 $883,600 $98,600 0 $0 $0<br />
Napili/Kahana/Honokowai 6 $2,679,900 $367,500 4 $8,682,000 $767,500 6 $3,749,900 $617,500<br />
Pukalani 2 $705,000 $352,500 3 $1,900,000 $350,000 5 $2,020,000 $400,000<br />
Sprecklesville/Paia/Kuau 1 $360,000 $360,000 2 $2,555,000 $1,277,500 1 $725,000 $725,000<br />
Wailea/Makena 2 $29,100,000 4,550,000 2 $6,700,000 $3,350,000 2 $2,112,500 $1,056,250<br />
Maui Summary : 65 $71,833,052 $410,001 81 $60,075,015 $429,000 61 $47,892,960 $500,000<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 1
Condominium Monthly Sales Volume<br />
For Month Ending 7/31/<strong>2011</strong><br />
Area Name<br />
Current Month<br />
Units Volume Median<br />
Previous Month<br />
Units Volume Median<br />
Year Ago Month<br />
Units Volume Median<br />
Central 8 $1,180,940 $116,975 9 $2,112,173 $199,000 5 $850,000 $160,000<br />
Hana 1 $570,000 $570,000 0<br />
$0 $0 0 $0 $0<br />
Kaanapali 13 $10,087,000 $575,000 11 $7,000,750 $650,000 7 $6,765,495 $999,995<br />
Kapalua 2 $1,160,000 $580,000 4 $8,475,000 $2,262,500 2 $933,000 $466,500<br />
Kihei 31 $8,616,080 $236,000 40 $9,608,991 $221,000 31 $11,116,200 $290,000<br />
Lahaina 12 $4,173,396 $338,500 5 $1,813,339 $362,000 3 $1,252,000 $415,000<br />
Maalaea 7 $2,228,900 $150,000 3 $1,535,500 $140,000 2 $717,500 $358,750<br />
Molokai 1 $90,000 $90,000 0<br />
$0 $0 0 $0 $0<br />
Napili/Kahana/Honokowai 15 $5,192,500 $232,000 21 $7,199,000 $280,000 13 $5,458,400 $340,000<br />
Pukalani 1 $349,000 $349,000 1 $344,000 $344,000 1 $380,500 $380,500<br />
Wailea/Makena 6 $5,510,000 $740,000 8 $17,218,888 $1,266,944 5 $3,924,955 $737,955<br />
Maui Summary : 97 $39,157,816 $325,000 102 $55,307,641 $294,500 69 $31,398,050 $390,000<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 2
Land Monthly Sales Volume<br />
For Month Ending 7/31/<strong>2011</strong><br />
Area Name<br />
Current Month<br />
Units Volume Median<br />
Previous Month<br />
Units Volume Median<br />
Year Ago Month<br />
Units Volume Median<br />
Central 3 $1,068,400 $125,000 2 $264,000 $132,000 4 $2,017,780 $210,750<br />
Haiku 2 $1,035,000 $517,500 0<br />
$0 $0 1 $220,000 $220,000<br />
Hana 0 $0 $0 1 $345,000 $345,000 0 $0 $0<br />
Kaanapali 1 $280,000 $280,000 2 $820,000 $410,000 4 $1,665,000 $370,000<br />
Kahakuloa 1 $180,000 $180,000 0<br />
$0 $0 0 $0 $0<br />
Kapalua 1 $900,000 $900,000 0<br />
$0 $0 0 $0 $0<br />
Kula/Ulupalakua/Kanaio 1 $709,000 $709,000 1 $500,000 $500,000 0 $0 $0<br />
Lahaina 2 $2,075,000 $1,037,500 2 $2,635,000 $1,317,500 4 $2,329,710 $594,100<br />
Makawao/Olinda/Haliimaile 0 $0 $0 1 $299,000 $299,000 1 $565,000 $565,000<br />
Molokai 1 $29,000 $29,000 3 $357,500 $92,500 0 $0 $0<br />
Pukalani 1 $168,000 $168,000 0<br />
$0 $0 1 $215,000 $215,000<br />
Wailea/Makena 0 $0 $0 1 $385,000 $385,000 0 $0 $0<br />
Maui Summary : 13 $6,444,400 $400,000 13 $5,605,500 $299,000 15 $7,012,490 $400,000<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 3
Sales Volume By Month<br />
For Month Ending 7/31/<strong>2011</strong><br />
180<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
Jan-06<br />
Mar-06<br />
May-06<br />
2006<br />
Jul-06<br />
Sep-06<br />
Nov-06<br />
Jan-07<br />
Mar-07<br />
May-07<br />
Jul-07<br />
Sep-07<br />
Nov-07<br />
Jan-08<br />
Mar-08<br />
2007<br />
May-08<br />
Jul-08<br />
Sep-08<br />
Con Lnd Re s<br />
2008<br />
Nov-08<br />
Jan-09<br />
Mar-09<br />
May-09<br />
Jul-09<br />
Sep-09<br />
Nov-09<br />
Jan-10<br />
Mar-10<br />
2009<br />
2010<br />
May-10<br />
Jul-10<br />
Sep-10<br />
Nov-10<br />
Jan-11<br />
Mar-11<br />
May-11<br />
Jul-11<br />
<strong>2011</strong><br />
Month<br />
Single<br />
Family<br />
Condo Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Jan<br />
86 130 28<br />
106 99 15<br />
57 89 7<br />
31 108 3<br />
48 75 12<br />
54 87 9<br />
Feb<br />
60 119 34<br />
104 84 30<br />
76 95 24<br />
34 84 6<br />
54 95 7<br />
59 98 7<br />
Mar<br />
107 144 39<br />
131 95 17<br />
95 92 10<br />
56 67 14<br />
72 125 12<br />
89 125 11<br />
Apr<br />
72 117 21<br />
96 117 26<br />
78 94 8<br />
50 41 11<br />
91 162 15<br />
89 120 14<br />
May<br />
87 137 16<br />
101 111 29<br />
97 84 9<br />
60 52 8<br />
81 105 16<br />
71 114 15<br />
Jun<br />
87 112 25<br />
112 113 26<br />
76 56 11<br />
65 55 8<br />
81 106 9<br />
81 102 13<br />
Jul<br />
88 84 16<br />
86 99 13<br />
97 63 7<br />
59 78 12<br />
61 69 15<br />
65 97 13<br />
Aug<br />
100 69 20<br />
83 115 10<br />
66 51 6<br />
53 66 3<br />
69 81 7<br />
Sep<br />
63 74 13<br />
74 84 16<br />
66 50 7<br />
54 63 10<br />
65 98 7<br />
Oct<br />
86 93 13<br />
80 112 17<br />
81 49 4<br />
74 61 8<br />
64 73 6<br />
Nov<br />
117 77 11<br />
83 86 16<br />
66 29 4<br />
67 70 17<br />
58 66 7<br />
Dec<br />
129 93 17<br />
87 73 14<br />
55 38 2<br />
90 81 11<br />
73 93 14<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sales data - Information deemed reliable, however not guaranteed Page 4
Sales Median By Month<br />
For Month Ending 7/31/<strong>2011</strong><br />
$1,000,000<br />
$900,000<br />
$800,000<br />
$700,000<br />
$600,000<br />
$500,000<br />
$400,000<br />
$300,000<br />
$200,000<br />
$100,000<br />
$0<br />
Jan-06<br />
Apr-06<br />
Jul-06<br />
Oct-06<br />
Jan-07<br />
Apr-07<br />
Jul-07<br />
Oct-07<br />
Jan-08<br />
Apr-08<br />
Jul-08<br />
Oct-08<br />
Jan-09<br />
Apr-09<br />
Jul-09<br />
Oct-09<br />
Jan-10<br />
Apr-10<br />
Jul-10<br />
Oct-10<br />
Jan-11<br />
Apr-11<br />
Jul-11<br />
Oct-11<br />
Con Lnd Res<br />
Month<br />
Jan<br />
Single<br />
Family<br />
2006<br />
Condo<br />
Land<br />
690500 433872 430000<br />
Single<br />
Family<br />
2007<br />
Condo<br />
Land<br />
602000 600000 700000<br />
Single<br />
Family<br />
2008<br />
Condo<br />
Land<br />
Single<br />
Family<br />
2009<br />
Condo<br />
Land<br />
563225 610000 600000 558000 805000 70000<br />
Single<br />
Family<br />
2010<br />
Condo<br />
Land<br />
464500 404000 516300<br />
Single<br />
Family<br />
<strong>2011</strong><br />
Condo<br />
Land<br />
495415 295000 300000<br />
Feb<br />
669500 430100 800000<br />
635000 596000 342000<br />
624391 575000 1195000 545000 692500 262500<br />
504150 424000 350000<br />
440000 371200 282500<br />
Mar<br />
725000 527625 701000<br />
625000 469500 550000<br />
620000 538500 537500 504500 468000 1669250<br />
460000 499000 600000<br />
450000 289000 500000<br />
Apr<br />
May<br />
Jun<br />
Jul<br />
Aug<br />
700000 539000 790000<br />
729000 600000 658000<br />
725000 647000 625000<br />
780000 512500 452500<br />
749500 495000 680000<br />
671000 485000 843750<br />
653746 531325 550000<br />
667000 475000 682500<br />
650000510000 575000<br />
639996 592000 662500<br />
577500 600000 477000 497000 410000 1100000<br />
567000 512500 600000 482500 399000 665000<br />
606000 577500 700000 495000 469000 441000<br />
610000 575000 1025000 532000 417000 322500<br />
645000 625000 422505 500000 371250 999990<br />
465000 450000 540000<br />
442000 410000 547500<br />
480000 435000 360000<br />
500000 390000 400000<br />
460000 310000 387500<br />
500000 338603 382500<br />
418000 349500 275000<br />
429000 294500 299000<br />
410001325000 400000<br />
Sep<br />
769000 4945001450000<br />
586000 599000450000<br />
537500 388500290500<br />
440000 307500712500<br />
440000 315635285000<br />
Oct<br />
650000 515000 700000<br />
591000 552000 450000<br />
510000 385000 590000 488500 400842 382450<br />
427500 320000 207500<br />
Nov<br />
609881 575000 460000<br />
631900 640156 465000<br />
475500 399000 507140 465000 399000 450000<br />
445000 349990 425000<br />
Dec<br />
625205 525000 767472<br />
582002 626000 650000<br />
570000 517000 2171300 477000 399000 420000<br />
460000 352000 394850<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sales data - Information deemed reliable, however not guaranteed Page 5
Sales Days on Market By Month<br />
For Month Ending 7/31/<strong>2011</strong><br />
700<br />
600<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
Jan-06<br />
Apr-06<br />
Jul-06<br />
Oct-06<br />
Jan-07<br />
Apr-07<br />
Jul-07<br />
Oct-07<br />
Jan-08<br />
Apr-08<br />
Jul-08<br />
Oct-08<br />
Jan-09<br />
Apr-09<br />
Jul-09<br />
Oct-09<br />
Jan-10<br />
Apr-10<br />
Jul-10<br />
Oct-10<br />
Jan-11<br />
Apr-11<br />
Jul-11<br />
Oct-11<br />
Con Lnd Re s<br />
2006<br />
2007<br />
2008<br />
2009<br />
2010<br />
<strong>2011</strong><br />
Month<br />
Single<br />
Family<br />
Condo Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Jan<br />
Feb<br />
121 102 558<br />
130 144 75<br />
113 180 162<br />
138 174 432<br />
151 223 379<br />
134 141 679<br />
176 1126 496<br />
199 1152 228<br />
224 247 248<br />
127 229 351<br />
112 180 240<br />
147 192 180<br />
Mar<br />
Apr<br />
May<br />
Jun<br />
Jul<br />
Aug<br />
Sep<br />
134 126 104<br />
108 121 152<br />
121 136 189<br />
123 151 133<br />
131 127 224<br />
125 126 153<br />
129 128 337<br />
150 152 230<br />
167 145 197<br />
158 153 184<br />
186 152 314<br />
146 161 147<br />
112 175 203<br />
137 157 231<br />
162 176 137<br />
138 175 164<br />
183 140 227<br />
154 147 180<br />
167 167 218<br />
209 138 174<br />
174 164 217<br />
163 191 108<br />
137 211 195<br />
150 127 337<br />
111 115 300<br />
212 190 230<br />
159 216 427<br />
158 135 185<br />
138 233 230<br />
153 179 162<br />
132 192 200<br />
131 184 174<br />
119 132 292<br />
118 202 124<br />
122 129 169<br />
150 185 231<br />
146 142 362<br />
138 201 175<br />
141 145 145<br />
144 203 242<br />
Oct<br />
Nov<br />
Dec<br />
116 144 236<br />
162 232 124<br />
145 170 161<br />
165 143 163<br />
163 204 259<br />
176 200 181<br />
158 186 93<br />
142 160 312<br />
159 169 88<br />
190 143 384<br />
168 192 284<br />
154 175 111<br />
181 141 220<br />
166 147 196<br />
153 172 190<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 6
Single Family Median Prices by Area<br />
For Month Ending 7/31/<strong>2011</strong><br />
Current Month Information<br />
Central<br />
Haiku<br />
Kaanapali<br />
Kapalua<br />
Kihei<br />
Kula/Ulupalakua/ Kanaio<br />
Lahaina<br />
Lanai<br />
M akawao/Olinda/Haliimaile<br />
M aui M eadows<br />
Molokai<br />
Napili/Kahana/Honokowai<br />
Pukalani<br />
Sprecklesville/Paia/Kuau<br />
Wailea/ M akena<br />
0 250,000 500,000 750,000 1,000,000 1,250,000 1,500,000 1,750,000 2,000,000<br />
Area Current Month Previous Month Year Ago Month<br />
Central<br />
$374,500 $357,900 $145,000<br />
Haiku<br />
$1,425,000 $515,000 $612,000<br />
Kaanapali<br />
$1,300,000 $1,487,500 $900,000<br />
Kapalua<br />
$3,680,000 $1,731,250 $2,750,000<br />
Kihei<br />
$385,000 $496,889 $700,000<br />
Kula/Ulupalakua/Kanaio<br />
$750,000 $562,500 $430,100<br />
Lahaina<br />
$841,050 $397,000 $310,550<br />
Lanai<br />
$270,000 $429,000 $0<br />
Makawao/Olinda/Haliimaile<br />
$293,000 $335,000 $470,750<br />
Maui Meadows<br />
$740,000 $1,076,625 $1,919,950<br />
Molokai<br />
$0 $98,600 $0<br />
Napili/Kahana/Honokowai<br />
$367,500 $767,500 $617,500<br />
Pukalani<br />
$352,500 $350,000 $400,000<br />
Sprecklesville/Paia/Kuau<br />
$360,000 $1,277,500 $725,000<br />
Wailea/Makena<br />
$14,550,000 $3,350,000 $1,056,250<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 7
Condominium Median Prices by Area<br />
For Month Ending 7/31/<strong>2011</strong><br />
Current Month Information<br />
$800,000<br />
$700,000<br />
$600,000<br />
$500,000<br />
$400,000<br />
$300,000<br />
$200,000<br />
$100,000<br />
$0<br />
Central<br />
Hana<br />
Kaanapali<br />
Kapalua<br />
Kihei<br />
Lahaina<br />
Maalaea<br />
Molokai<br />
Napili/Kahana/Honokowai<br />
Pukalani<br />
Wailea/Makena<br />
Area Current Month Previous Month Year Ago Month<br />
Central<br />
$116,975 $199,000 $160,000<br />
Hana<br />
$570,000 $0 $0<br />
Kaanapali<br />
$575,000 $650,000 $999,995<br />
Kapalua<br />
$580,000 $2,262,500 $466,500<br />
Kihei<br />
$236,000 $221,000 $290,000<br />
Lahaina<br />
$338,500 $362,000 $415,000<br />
Maalaea<br />
$150,000 $140,000 $358,750<br />
Molokai<br />
$90,000 $0 $0<br />
Napili/Kahana/Honokowai<br />
$232,000 $280,000 $340,000<br />
Pukalani<br />
$349,000 $344,000 $380,500<br />
Wailea/Makena<br />
$740,000 $1,266,944 $737,955<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 8
Land Median Prices by Area<br />
For Month Ending 7/31/<strong>2011</strong><br />
Current Month Information<br />
Central<br />
Haik u<br />
Hana<br />
Kaanapali<br />
Kahak uloa<br />
Kapalua<br />
Kula/Ulupalakua/Kanaio<br />
Lahaina<br />
Makawao/Olinda/Haliimaile<br />
Molokai<br />
Pukalani<br />
Wailea/Makena<br />
$0 $200,000 $400,000 $600,000 $800,000 $1,000,000<br />
Area Current Month Previous Month Year Ago Month<br />
Central<br />
Haiku<br />
Hana<br />
Kaanapali<br />
Kahakuloa<br />
Kapalua<br />
Kula/Ulupalakua/Kanaio<br />
Lahaina<br />
Makawao/Olinda/Haliimaile<br />
Molokai<br />
Pukalani<br />
Wailea/Makena<br />
$125,000 $132,000 $210,750<br />
$517,500 $0 $220,000<br />
$0 $345,000 $0<br />
$280,000 $410,000 $370,000<br />
$180,000 $0 $0<br />
$900,000 $0 $0<br />
$709,000 $500,000 $0<br />
$1,037,500 $1,317,500 $594,100<br />
$0 $299,000 $565,000<br />
$29,000 $92,500 $0<br />
$168,000 $0 $215,000<br />
$0 $385,000 $0<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteedc Page 9
Single Family Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 7/31/<strong>2011</strong> with 1/1/2010 thru 7/31/2010<br />
Number of Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Central 148 155 -7 -5% $397,391 $427,072 -7% $380,000 $430,000 -12% $58,813,849 $66,196,207 -11%<br />
Haiku 26 27 -1 -4% $846,777 $632,648 34% $698,500 $520,000 34% $22,016,200 $17,081,500 29%<br />
Hana 1 2 -1 -50% $208,550 $705,000 -70% $208,550 $705,000 -70% $208,550 $1,410,000 -85%<br />
Kaanapali 23 15 8 53% $1,340,261 $1,372,000 -2% $1,100,000 $1,100,000 0% $30,826,000 $20,580,000 50%<br />
Kapalua 9 5 4 80% $4,663,611 $3,915,000 19% $2,850,000 $3,000,000 -5% $41,972,500 $19,575,000 114%<br />
Keanae 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A<br />
Kihei 87 90 -3 -3% $517,564 $553,426 -6% $405,000 $449,500 -10% $45,028,078 $49,808,342 -10%<br />
Kula/Ulupalakua/Kanaio 39 32 7 22% $748,818 $763,846 -2% $554,000 $491,000 13% $29,203,890 $24,443,056 19%<br />
Lahaina 24 25 -1 -4% $1,014,525 $921,694 10% $722,500 $501,900 44% $24,348,600 $23,042,350 6%<br />
Lanai 7 4 3 75% $294,000 $328,250 -10% $270,000 $264,000 2% $2,058,000 $1,313,000 57%<br />
Makawao/Olinda/Haliimaile 34 27 7 26% $423,260 $582,646 -27% $325,000 $399,000 -19% $14,390,850 $15,731,450 -9%<br />
Maui Meadows 13 13 0 0% $935,088 $996,338 -6% $770,000 $700,000 10% $12,156,150 $12,952,400 -6%<br />
Molokai 11 5 6 120% $391,489 $653,200 -40% $350,000 $450,000 -22% $4,306,375 $3,266,000 32%<br />
Nahiku 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A<br />
Napili/Kahana/Honokowai 24 18 6 33% $1,146,318 $870,144 32% $627,500 $662,500 -5% $27,511,636 $15,662,600 76%<br />
Olowalu 1 0 1 N/A $414,000 $0 N/A $414,000 $0 N/A $414,000 $0 N/A<br />
Pukalani 35 39 -4 -10% $540,180 $499,895 8% $475,000 $430,000 10% $18,906,308 $19,495,900 -3%<br />
Sprecklesville/Paia/Kuau 14 11 3 27% $763,221 $597,591 28% $567,000 $550,000 3% $10,685,100 $6,573,500 63%<br />
Wailea/Makena 12 20 -8 -40% $4,459,583 $3,847,900 16% $1,850,000 $1,699,500 9% $53,515,000 $76,958,000 -30%<br />
Maui Summary:<br />
508 488 20 4% $780,238 $766,576 2% $441,500 $469,000 -6% $396,361,086 $374,089,305 6%<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 10
Condominium Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 7/31/<strong>2011</strong> with 1/1/2010 thru 7/31/2010<br />
Number of Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Central 74 54 20 37% $205,588 $215,034 -4% $194,500 $191,250 2% $15,213,528 $11,611,830 31%<br />
Hana 1 0 1 N/A $570,000 $0 N/A $570,000 $0 N/A $570,000 $0 N/A<br />
Kaanapali 88 191 -103 -54% $819,297 $1,277,663 -36% $650,000 $859,950 -24% $72,098,150 $244,033,648 -70%<br />
Kapalua 16 16 0 0% $1,140,581 $1,486,625 -23% $634,500 $770,000 -18% $18,249,300 $23,786,000 -23%<br />
Kihei 267 235 32 14% $303,256 $343,272 -12% $240,000 $276,000 -13% $80,969,377 $80,669,028 0%<br />
Lahaina 47 37 10 27% $465,936 $408,866 14% $350,000 $400,000 -13% $21,898,975 $15,128,050 45%<br />
Lanai 7 1 6 600% $1,303,557 $460,000 183% $1,050,400 $460,000 128% $9,124,900 $460,000 1884%<br />
Maalaea 28 25 3 12% $320,930 $383,270 -16% $259,000 $317,500 -18% $8,986,050 $9,581,750 -6%<br />
Molokai 8 13 -5 -38% $132,800 $146,231 -9% $125,500 $160,000 -22% $1,062,400 $1,901,000 -44%<br />
Napili/Kahana/Honokowai 132 94 38 40% $304,946 $339,570 -10% $260,000 $303,000 -14% $40,252,894 $31,919,600 26%<br />
Pukalani 4 1 3 300% $340,500 $380,500 -11% $346,500 $380,500 -9% $1,362,000 $380,500 258%<br />
Wailea/Makena 71 70 1 1% $1,544,914 $1,668,310 -7% $900,000 $967,500 -7% $109,688,888 $116,781,719 -6%<br />
Maui Summary:<br />
743 737 6 1% $510,735 $727,616 -30% $325,000 $420,000 -23% $379,476,462 $536,253,125 -29%<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 11
Fee Simple Condominium Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 7/31/<strong>2011</strong> with 1/1/2010 thru 7/31/2010<br />
Number of Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Central 74 54 20 37% $205,588 $215,034 -4% $194,500 $191,250 2% $15,213,528 $11,611,830 31%<br />
Hana 1 0 1 N/A $570,000 $0 N/A $570,000 $0 N/A $570,000 $0 N/A<br />
Kaanapali 81 188 -107 -57% $855,446 $1,291,950 -34% $655,000 $871,500 -25% $69,291,150 $242,886,648 -71%<br />
Kapalua 16 16 0 0% $1,140,581 $1,486,625 -23% $634,500 $770,000 -18% $18,249,300 $23,786,000 -23%<br />
Kihei 267 232 35 15% $303,256 $343,078 -12% $240,000 $275,000 -13% $80,969,377 $79,594,028 2%<br />
Lahaina 46 36 10 28% $475,152 $418,328 14% $351,500 $402,000 -13% $21,856,975 $15,059,800 45%<br />
Lanai 7 1 6 600% $1,303,557 $460,000 183% $1,050,400 $460,000 128% $9,124,900 $460,000 1884%<br />
Maalaea 17 17 0 0% $429,715 $441,574 -3% $399,000 $400,000 0% $7,305,150 $7,506,750 -3%<br />
Molokai 7 12 -5 -42% $142,929 $153,000 -7% $161,000 $160,000 1% $1,000,500 $1,836,000 -46%<br />
Napili/Kahana/Honokowai 102 76 26 34% $327,980 $372,501 -12% $267,500 $327,500 -18% $33,453,994 $28,310,100 18%<br />
Pukalani 4 1 3 300% $340,500 $380,500 -11% $346,500 $380,500 -9% $1,362,000 $380,500 258%<br />
Wailea/Makena 71 70 1 1% $1,544,914 $1,668,310 -7% $900,000 $967,500 -7% $109,688,888 $116,781,719 -6%<br />
Maui Summary:<br />
693 703 -10 -1% $531,148 $751,370 -29% $335,000 $434,000 -23% $368,085,762 $528,213,375 -30%<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 12
Leasehold Condominium Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 7/31/<strong>2011</strong> with 1/1/2010 thru 7/31/2010<br />
Number of Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Kaanapali 7 3 4 133% $401,000 $382,333 5% $267,000 $400,000 -33% $2,807,000 $1,147,000 145%<br />
Kihei 0 3 -3 -100% $0 $358,333 -100% $0 $350,000 -100% $0 $1,075,000 -100%<br />
Lahaina 1 1 0 0% $42,000 $68,250 -38% $42,000 $68,250 -38% $42,000 $68,250 -38%<br />
Maalaea 11 8 3 38% $152,809 $259,375 -41% $150,000 $250,000 -40% $1,680,900 $2,075,000 -19%<br />
Molokai 1 1 0 0% $61,900 $65,000 -5% $61,900 $65,000 -5% $61,900 $65,000 -5%<br />
Napili/Kahana/Honokowai 30 18 12 67% $226,630 $200,528 13% $167,000 $192,500 -13% $6,798,900 $3,609,500 88%<br />
Maui Summary:<br />
50 34 16 47% $227,814 $236,463 -4% $171,750 $237,500 -28% $11,390,700 $8,039,750 42%<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 13
Land Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 7/31/<strong>2011</strong> with 1/1/2010 thru 7/31/2010<br />
Number of Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Central 13 14 -1 -7% $354,431 $393,949 -10% $145,000 $195,750 -26% $4,607,600 $5,515,280 -16%<br />
Haiku 7 11 -4 -36% $459,286 $400,864 15% $400,000 $430,000 -7% $3,215,000 $4,409,500 -27%<br />
Hana 1 1 0 0% $345,000 $1,390,000 -75% $345,000 $1,390,000 -75% $345,000 $1,390,000 -75%<br />
Kaanapali 14 8 6 75% $468,107 $441,250 6% $512,500 $437,500 17% $6,553,500 $3,530,000 86%<br />
Kahakuloa 4 0 4 N/A $266,354 $0 N/A $252,708 $0 N/A $1,065,415 $0 N/A<br />
Kapalua 5 0 5 N/A $906,000 $0 N/A $950,000 $0 N/A $4,530,000 $0 N/A<br />
Keanae 1 0 1 N/A $260,000 $0 N/A $260,000 $0 N/A $260,000 $0 N/A<br />
Kihei 4 1 3 300% $1,432,500 $610,000 135% $330,000 $610,000 -46% $5,730,000 $610,000 839%<br />
Kula/Ulupalakua/Kanaio 6 6 0 0% $462,333 $305,483 51% $442,500 $240,000 84% $2,774,000 $1,832,900 51%<br />
Lahaina 8 22 -14 -64% $989,375 $727,023 36% $950,000 $655,280 45% $7,915,000 $15,994,510 -51%<br />
Lanai 1 0 1 N/A $3,612,500 $0 N/A $3,612,500 $0 N/A $3,612,500 $0 N/A<br />
Makawao/Olinda/Haliimaile 2 5 -3 -60% $279,000 $717,900 -61% $279,000 $565,000 -51% $558,000 $3,589,500 -84%<br />
Maui Meadows 0 1 -1 -100% $0 $575,000 -100% $0 $575,000 -100% $0 $575,000 -100%<br />
Molokai 11 8 3 38% $126,249 $219,813 -43% $92,500 $113,250 -18% $1,388,736 $1,758,500 -21%<br />
Nahiku 0 1 -1 -100% $0 $520,000 -100% $0 $520,000 -100% $0 $520,000 -100%<br />
Napili/Kahana/Honokowai 1 0 1 N/A $265,000 $0 N/A $265,000 $0 N/A $265,000 $0 N/A<br />
Pukalani 2 2 0 0% $179,000 $233,750 -23% $179,000 $233,750 -23% $358,000 $467,500 -23%<br />
Sprecklesville/Paia/Kuau 0 1 -1 -100% $0 $150,000 -100% $0 $150,000 -100% $0 $150,000 -100%<br />
Wailea/Makena 2 5 -3 -60% $3,842,500 $942,200 308% $3,842,500 $1,295,000 197% $7,685,000 $4,711,000 63%<br />
Maui Summary:<br />
82 86 -4 -5% $620,277 $523,880 18% $330,000 $450,000 -27% $50,862,751 $45,053,690 13%<br />
SOURCE: REALTORS Association of Maui - www.RAMaui.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 14