Here’s an update for condo sales in the Mauna Lani Resort through November, 2011. The first graph tracks the number of condos sold:
While this graph shows condo sales trending down over the course of 2011, it is interesting to note that condo sales in Mauna Lani are at 57 through November compared to 40 for the same period in 2010. Two of the three sales in November were resales, one was a foreclosure.
The next graph tracks the median selling price:
Clearly, prices are not plunging and seem to be holding their own. As of the end of November, there were 51 active listings in Mauna Lani compared with 47 at the end of October.
So, unit sales are up for the year, prices seem to be steadying out, and inventory is still on the low side, historically. Has the market bottomed? Are we seeing a consolidation as things stabilize? Does this mean great deals will be harder to find going forward?