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Maui

Puamana Mid Year Market Report – Sales Strong, Inventory Low

It’s hard to believe that just 6 months ago I was reporting that in Puamana, while prices were continuing on the healthy side of ascension, transaction volume had come to a come to a halt from July-December last year. Literally, for 5 months there was only escrow (contract) and zero sales transactions. And to make things a bit more nerve racking for Maui real estate insiders, inventory had ballooned to 11 active listings — considered high for the 231-unit oceanfront community on Front Street at the south end of Lahaina town. There was a lot of sales activity, just not the transactional kind.

Well, a lot has changed since then and the tune I am singing is quite the opposite. In fact, nearly all of that active Puamana inventory mentioned was sold in the first half this year. With 8 total sales, we have already reached 2016s total and very close to previous year’s totals (and it’s only June). The 25-year average is 12 units/yr.

For a more detailed look and historical comparison of  where we are now:

 2012-2017 Sales Summary Snapshot

YEAR Total # Sold Avg List Price Avg Sale Price Yr Gr Avg – DOM Total Pr/Liv Sq ft % of list price
2017 8 $1,028,375 $964,750 9.4% 123 94%
2016 8 $911,463 $881,650 -21.7% 102 97%
2015 11 $1,230,864 $1,125,400 20.2% 164 $914 91%
2014 13 $1,011,608 $936,231 2.1% 232 $1,013 93%
2013 10 $960,150 $916,850 -5.1% 219 $740 95%
2012 10 $1,065,600 $966,600 -1.3% 251 $796 91%


Historical Sales Summary

Current Active Market = Low Inventory

4 properties at Puamana are actively listed priced from $825K-1.625M

Puamana 52-3, a recently rebuilt 2 Bed/2.5 bath  1,328 sq ft backline ocean view unit sold for $1.04M

If you are in the market for buying or selling Puamana real estate, or have any questions about the neighborhood or West Maui real estate in general, please feel free to contact me. I welcome the opportunity to help. And if requested, give you information about my previous sales performance and marketing strategies free of any sales pitches.

For resourceful, one of a kind statistics, information, and updates relevant to the Puamana real estate market, visit Jeff.HawaiiLife.com – representing the areas of Lahaina, Kaanapali, and Kapalua. Aloha!

Related Links:

Puamana in Lahaina: Reasons Why It’s Best

Front Street: Find Your Lahaina Life!

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