2013 is coming to an end, and in Wailea, the change is dramatic. No, there’s no snow to hail in Christmas, and the city is just as beautiful as ever. But as we approach the end of the year, we can look back to where Wailea’s market was this time in 2012 and see a startling difference.
Wailea was affected by the downturn in the real estate market in the past years as much as anywhere else. Home prices dipped when the market got unsteady, and are just now climbing back up to their feet. The affect of the economy’s improvement is noticable in 2013.
Number of Sales
Wailea saw great market improvement in several areas this year. 2013 saw a 13% increase in number of sales over 2012. More homes and condos were sold in the Wailea/Makena area than in Kapalua, tying Wailea/Makena with south Maui’s huge neighborhood of Maui Meadows.
Average sales prices began to rise, with a 68% increase over 2012. The average Wailea sale now lingers in the 3 million dollar range, making it the second most costly region in Maui in 2013, second only to Kapalua. That cost is tied directly to the luxury and beauty that Wailea is known for.
Good News for Buyers
With home prices returning to normal, this is a great time for buyers. Many sellers who may have kept their home off the market when prices dropped are now considering selling, which means luxury homes are available today.
2014 is fast approaching, and it’s possible that it will continue to offer increase for Wailea. Moving to Maui is easier than you think, and better than you can imagine. Contact me to get started finding your dream home today.