Wailea Makena Market Report

Market Report-Steve Nickens

It has been a busy year in Wailea Makena Real Estate Market

Active Wailea Makena Homes: Currently there are 33 homes active on the market in Wailea Makena.  Prices starting at $1,595,000, running up to $15,900,000 for Makena oceanfront home

Pendings Homes in Wailea Makena: There are currently 7 homes pending in Wailea Makena. Prices starting at $1,595,000, and as high as $7,600,000.

Solds Homes in Wailea Makena:Year to date there has been 32 homes sold in Wailea Makena.  Prices beginning at $950,000 running up to $15,500,000 for a home in Makena Beach,

You can view all homes for sale in Wailea Makena

Wailea/Makena (7)

Published: June 2017*
Property Types: All Residential Properties – Fee Simple – All Properties – All Properties

Price Range: $1,000,000 – No Limit SQFT Range: 0 – No Limit

Bedrooms: 3 – No Limit Bathrooms: 0 – No Limit

Year Built: 0 – No Limit

May 2017 is a Buyer’s market! The number of for sale listings was the same as one year earlier and down 20% from the previous month. The number of sold listings was the same year over year and increased 100% month over month. The number of under contract listings was down 40% compared to the previous month and up 50% compared to the previous year. The Months of Inventory based on Closed Sales is 18, the same as the previous year.

The Average Sold Price per Square Footage was up 288.2% compared to the previous month and up 34.1% compared to last year. The Median Sold Price increased by 425.7% from last month. The Average Sold Price also increased by 425.7% from last month. Based on the 6 month trend, the Average Sold Price trend is “Appreciating” and the Median Sold Price trend is “Appreciating”.

The Average Days on Market showed a downward trend, a decrease of 73.7% compared to the previous year. The ratio of Sold Price vs. Original List Price is 98%, an increase of 22.5% compared to the previous year.

It is a Buyer’s Market

Property Sales (Sold)

May property sales were 2, the same as in May of 2016 and 100% higher than the 1 sales last month.

Current Inventory (For Sale)

Versus last year, the total number of properties available this month is the same 36 units. This year’s same inventory means that buyers who waited to buy may have the same selection to choose from. The number of current inventory is down 20% compared to the previous month.

Property Under Contract (Pended)

There was a decrease of 40% in the pended properties in May, with 3 properties versus 5 last month. This month’s pended property sales were 50% higher than at this time last year.

All reports are published June 2017, based on data available at the end of May 2017, except for the today stats. All reports presented are based on data supplied by the HiCentral, RAMaui, and Hawaii Information Services MLS. Neither the Association nor its MLSs guarantee or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS’s may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Steve Nickens

Wailea/Makena (7)

Published: June 2017*
Property Types: All Residential Properties – Fee Simple – All Properties – All Properties

Price Range: $1,000,000 – No Limit SQFT Range: 0 – No Limit

Bedrooms: 3 – No Limit Bathrooms: 0 – No Limit

Year Built: 0 – No Limit

The Average Sold Price per Square Footage is Appreciating*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the ‘mix’ of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The May 2017 Average Sold Price per Square Footage of $1712 was up 288.2% from $441 last month and up 34.1% from $1277 in May of last year.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

The Days on Market Shows Downward Trend*

The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for May 2017 was 42, down 60.4% from 106 days last month and down 73.7% from 160 days in May of last year.

The Sold/Original List Price Ratio is Rising**

The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 98% is up 6.5% % from last month and up from 22.5% % in May of last year.

* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady

All reports are published June 2017, based on data available at the end of May 2017, except for the today stats. All reports presented are based on data supplied by the HiCentral, RAMaui, and Hawaii Information Services MLS. Neither the Association nor its MLSs guarantee or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS’s may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Steve Nickens

Published: June 2017*
Property Types: All Residential Properties – Fee Simple – All Properties – All Properties

Price Range: $1,000,000 – No Limit SQFT Range: 0 – No Limit

Bedrooms: 3 – No Limit Bathrooms: 0 – No Limit

Year Built: 0 – No Limit

The Average For Sale Price is Neutral*
The Average For Sale Price in May was $5,754,000, down 2.2% from $5,883,000 in May of 2016 and down 6.4% from $6,150,000 last month.

The Average Sold Price is Appreciating*
The Average Sold Price in May was $5,520,000, down 1.1% from $5,582,000 in May of 2016 and up 425.7% from $1,050,000 last month.

The Median Sold Price is Appreciating*
The Median Sold Price in May was $5,520,000, down 1.1% from $5,582,000 in May of 2016 and up 425.7% from $1,050,000 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

All reports are published June 2017, based on data available at the end of May 2017, except for the today stats. All reports presented are based on data supplied by the HiCentral, RAMaui, and Hawaii Information Services MLS. Neither the Association nor its MLSs guarantee or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS’s may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Wailea/Makena (7)

It is a Buyer’s Market*

A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.

*Buyer’s market: more than 6 months of inventory Seller’s market: less than 3 months of inventory Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed Sales

The May 2017 Months of Inventory based on Closed Sales of 18 was the same compared to last year and down 60% compared to last month. May 2017 is Buyer’s market.

Months of Inventory based on Pended Sales

The May 2017 Months of Inventory based on Pended Sales of 12 was decreased by 33.3% compared to last year and up 33.3% compared to last month. May 2017 is Buyer’s market.

Steve Nickens

Wailea/Makena (7)

Published: June 2017*
Property Types: All Residential Properties – Fee Simple – All Properties – All Properties

Price Range: $1,000,000 – No Limit SQFT Range: 0 – No Limit

Bedrooms: 3 – No Limit Bathrooms: 0 – No Limit

Year Built: 0 – No Limit

It is a Buyer’s Market*

Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.

*Buyer’s market: 16.67% and below Seller’s market: 33.33% and above Neutral market: 16.67% – 33.33%

Absorption Rate based on Closed Sales

The May 2017 Absorption Rate based on Closed Sales of 5.6 was the same compared to last year and up 153% compared to last month.

Absorption Rate based on Pended Sales

The May 2017 Absorption Rate based on Pended Sales of 8.3 was increased by 48.6% compared to last year and down 25.2% compared to last month.

All reports are published June 2017, based on data available at the end of May 2017, except for the today stats. All reports presented are based on data supplied by the HiCentral, RAMaui, and Hawaii Information Services MLS. Neither the Association nor its MLSs guarantee or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS’s may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.