Tropic Gardens Condo Prices Rise Even Higher in 2013

After a two month dry spell of no fee simple condo listings available in Waialae Nui Valley, two new Tropic Gardens 1, two bed/two bath condos finally came on the market in July at new benchmark prices of $485K and $495K. Both units went into escrow quickly and will be closing soon.

Tropic Gardens #120

The end-unit pictured above (MLS# 201329984) was listed by myself and associate agent Joshua Nelson. When the Buyer’s Agent initially called me he said, “my client passed on the other unit at $485K because she wants an end unit.”

Tropic Gardens #120 kitchen

Tropic Gardens 1 Condos in High Demand

Tropic Gardens 1, as well as comparable condos at Tropicana Village Makai and Waialae Gardens in the same neighborhood, are in high demand for many reasons:

1. Great location with good public schools and only one block from Kahala Mall and Whole Foods. Also, quick freeway access and alternatively only minutes to great beaches and surf spots.

2. Relatively affordable prices for these condos under $500K as single family homes in the area start at $1 million and well over.

3. Pet-friendly. In general, this is a hard feature to find on Oahu for condos.

Tropic Gardens 1 is the largest condo association among the 3 that I mentioned above and has large, well-kept grounds with two pools

Tropic Gardens Market Activity

During the past 6 months there has been one closing: 

• (MLS# 1305436) – 2 bed/2 bath sold at $463K on 6/18/13

The highest previous 2 bed/2 bath condo sales were:

• (MLS# 1209221) – Closed at $470K on 10/31/12
• (MLS# 1109407) – Closed at $480K on 10/21/11