The Beach Club at Mauna Lani
46 Mauna Lani condominiums sold during 2010 with 14 condos currently under contract throughout the Mauna Lani Resort, and 6 closed in the month of December alone. That leaves an average of 3.3 sales per month in the first 11 months of the year.
Yes, I am a numbers personâ€¦what the numbers represent, however, is that the market is indeed changing, along with the prices of course. It is no mystery that the drop in prices has spiked the rise in recent sales.
Ka Milo has begun construction of their next phase after nearly three years of calm; No Hona Kai is expected to launch sales on their single family residential golf front project between The Mauna Lani Hotel and the Pauoa Beach/Fairmont Hotel (many of which are nearly complete); and Kulalani is due to start breaking ground on their second half of golf front condos as well after a three year hiatus.
When showing property to a buyer client this week, I was again enlightened on how our market is still dropping, and would not be â€œat the bottomâ€ until this coming summer!Â I prefer to remain optimistic, and work with the facts and figures in front of me now.
Clearly, the numbers of buyers and sellers who have chosen to buy and sell their properties in the current market at the current prices have increased steadily throughout the past year, and are actually lining up for the next several months.Â While it is our â€œselling seasonâ€ it appears they may be working on the same projection that I amâ€¦that the market has indeed stabilized, and if they want to participate in the current low-interest loans and prices, now is the time.
Living and loving the resort life!