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Pineapple Hill Update: Market Remains Strong | March & April 2016

The first quarter of 2016 finished strong and April hasn’t shown any signs of slowing down. The first two months of the quarter had one sale and two properties that went into escrow. In March, both of those properties closed and two more went into escrow. April has brought three new properties to the market as well as one sale. Additionally, there are 2 properties that are pending going into May.

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View from 1206 Summer Rd. (MLS# 367720)

Market Activity

Here’s a look at the activity:

Screen Shot 2016-05-05 at 2.10.19 PM

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Source: Realtor Association of Maui data (click image to enlarge)

As for the exciting news, we’ll start with what has sold in the months of March/April.

What has sold:

101 Pulelehua St. (MLS# 364492) was the first property to sell in March. It closed on 3/10/2016 after being first listed at $3,650,000 on 3/27/15. A few price reductions along the way…$3,400,000/$3,190,000/$2,950,000…it closed at a sales price of $2,700,000 after 349 days on the market.

710 Fairway Dr. (MLS# 367791) was the next property to close. It spent only 62 days on the market. Originally priced at $2,350,000, it closed on 3/15/2016 at a sales price of $2,150,000.

114 Woodrose Pl. (MLS# 65833) closed on 4/29/2016 at a price of $2,350,000 after 273 day on the market at an original listing price of $2,495,000.

On to pending:

108 Woodrose Pl. (MLS# 363410) was changed from active to pending on 3/31/2016. It was listed at $2,695,000 and has been on the market since 1/3/2015.

214 Crestview Rd. (MLS# 368627) is now pending as of 3/27/2016. It was listed at a price of $2,795,000.

As for new listings:

100 Woodrose Pl. (MLS# 369069) is new to the market as of 4/5/2016. It has been listed for sale at an asking price of $3,850,000.

806 Jacaranda Way (MLS# 369067) also arrived on the market on 4/5/2016. It is listed at $3,200,000.

The latest arrival to the market is 504 Pacific Dr. (MLS# 369209). It was listed at $2,549,000 on 4/15/2016. It had previously been on the market for 295 days when it expired on 1/1/2016 at a price of $2,750,000.

Price reductions:

116 Pulelehua St. (MLS# 366486) was reduced $100,000 to $3,495,000 on 3/7/2016. Then on 4/27/2016 it was reduced another $100,000. It is currently priced at $3,395,000.

With a total of 4 closed sales within Pineapple Hill as of April 30 and 2 pending, 2016 has doubled the sales (2) by the same point as compared to 2015. The last year to have more sales, at this point, was 2005, with 5.

Want to Know More?

If you have any questions, or would like to know more about the Pineapple Hill area, please contact me.

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