Not according to this PNC Wealth Management Survey. While almost half of the survey group are pessimistic about real estate prices in 2007, only 15% expressed concern over potential declining home prices. Read More »

Inventory in this market remains nearly constant at eighty five units for sale. That has been the range for about six months now. Good news as the season gets ready to open! Fifteen units have been sold since November and another twenty one are currently in escrow. That absorption rate implies a selling time average of approximately six months IN NON PEAK MONTHS! That is very good news indeed for sellers in this market as it suggests a reasonably strong season is upcoming!

Several new listings have come on the market in the Wailea real estate market. 177 Alaula Place in Kialoa is listed for $2.995 million. The home is 3280 square feet and has excellent ocean views. 371 Pualoa Nani in Pualiani has been listed for $2.4 million. Lot 11 in the One Palauea Bay development has been listed for $3.7 million. A three parcel oceanfront lot of just under one acre in Makena has dropped its asking price to $12.9 million.

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UBS has released their 2007 set of economic forecasts. The entire report can be read here. Their major predictions are as follows:

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There has been some modest activity in the Wailea and Makena residential market in the past week. Two properties have gone into escrow. Lot 10 at One Palauea Bay, across from the Kea Lani Hotel, listed for $2.95 million and number 10 Makena Place, a breathtaking 4000 square foot oceanfront home listed for $8.8 million are both under contract.  4334 Walina in Wailea Golf Vistas has reduced its asking price to $2.195 million from $2.3 million and 3875 Waakaula in Wailea Golf Estates has been listed for $2.5 million.

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