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|
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!