Homes Still Selling, Despite Covid-19 – See 3 Examples of Recent Transactions

Covid 19 has had a dramatic effect on many things and has affected many people’s lives. It seems to have caused folks to look deeply into their own existence and re-examine where they are living, what they are doing and making decisions to change things up.

Many that live in the crowded cities have moved, or are planning to move, to the suburbs. Maui is an extreme example of a suburb in this context. (Read this recent survey from Quicken where more than 1/3 of millennial renters are planning to leave cities across the US, within the next 12 months).

Some folks have decided to move here and live their best lives. (Read this story about lifestyle changes).

For some, the situation has created a sense of urgency which has manifested itself by way of people making offers on properties in a time when inventory is low. This has resulted in multiple offer situations, which drives pricing upward. With the travel restrictions, it has caused many sight-unseen purchases. These are different times.

At present we are seeing some extreme examples of how our current circumstances are playing out. Some people are unfortunately losing their jobs and/or their businesses, while some people/companies are thriving.

In some cases, they were already operating in a business model that leverages virtual realities, while others have adjusted to the changes. In these cases, they are doing well, despite (or perhaps because of) the effects of Covid-19.

Again, some are migrating to safer grounds, which has had an effect on Maui’s real estate market.

Below are some examples of transactions that were affected by the situations.

33 Kai Nana Place, Kula

My listing at 33 Kai Nana Place in Kula went under contract with a sight-unseen Buyer who purchased based on a Facetime call showing appointment. We are shifting to a “new normal” way of doing business. Buyers and Sellers are adapting to it too. (Read this story on buying a house “sight-unseen”)

1895 Haiku Rd #A, Haiku

I represented a couple in the purchase of 1895 Haiku Rd., Haiku where the purchase was based strictly on my narrated walk-through videos. They moved here and quarantined in their new home.

120 Puanani Street, Kula

Also, I represented a young family in the purchase of 120 Puanani St. in Kula. The property was not made available on the MLS and was only advertised on Zillow. Another example of how highly motivated people are to buy a Maui home, despite the economic downturn.