In September only six condominiums sold in Wailea and Makena. While September is typically a slow month, that is still a weak number. Of the six, three were oceanfront complexes. The overall average per square foot price was a strong $1,153 and the median sale price was $1.34 million. But if you break down those figures, the mountainside complexes saw a weak $751 per square foot while the oceanfront obtained a robust $1,641. Seven more condominiums went into escrow including two at Wailea Beach Villas and at Wailea Point. Inventory for sale remains approximately where it has been with just over 130 units for sale.

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September is historically the slowest month of the year and this September was no different. Two properties closed, both in Wailea Kialoa and both for approximately $740 per square foot and 96% of their listing price. A Pualani home listed for just under $2 million has gone into escrow. That leaves 29 non-oceanfront Wailea and Makena homes on the market currently with an average of five months on the market. At the 2007 absorption rate, that is between nine and twelve months worth of inventory, a manageable level. For more details, contact us!