Kapalua Real Estate: Residential Market Update September 2016
Posted
by Courtney M. Brown
on Wednesday, September 14th, 2016 at 9:13pm.
Kapalua Residential Real Estate Market Update
The Kapalua Resort offers many real estate ownership options to prospective buyers--everything from condos to homes, and even fractional ownership Residences at Kapalua Bay. The following is a market overview for each market segment during the time period through today's posting.
Pineapple Hill and Pineapple Hill Estates Active Listings: 12 Price Range: $2,150,000 to $6,300,000 Average List Price: $3,537,791 Average LP/Sq. Ft.: $821 Average DOM: 258 Size Range: 3,522 sq. ft. to 8,172 sq. ft.
Pending Sales: 0
Sales 2016 YTD: 6 Price Range: $2,150,000 to $2,700,000 Average Sales Price: $2,353,333 Average SP/Sq. Ft.: $670 Average DOM: 275
Sales 2015 YTD: 7 Price Range: $1,975,000 to $3,350,000 Average Sales Price: $2,482,857 Average SP/Sq. Ft.: $623 Average DOM: 305
Honolua Ridge Active Listings: 2 Price Range: $4,395,000 to $4,995,000 Average List Price: $4,695,000 Average LP/Sq. Ft.: $849 Average DOM: 233 Size Range: 4,574 sq. ft. to 6,248 sq. ft.
Pending Sales: 0
Sales 2016 YTD: 2 Price Range: $4,850,000 to $4,950,000 Average Sales Price: $4,900,000 Average SP/Sq. Ft.: $920 Average DOM: 271
Sales 2015 YTD: 1 Price: $3,495,000 Average SP/Sq. Ft.: $876 Average DOM: 174
Plantation Estates Active Listings: 7 Price Range: $5,250,000 to $6,995,000 Average List Price: $5,953,571 Average LP/Sq. Ft.: $1,072 Average DOM: 133 Size Range: 4,118 sq. ft. to 8,179 sq. ft.
Pending Sales: 2 Price Range: $5,200,000 to $6,000,000 Average List Price: $5,600,000 Average LP/Sq. Ft.: $697 Average DOM: 269
Sales 2016 YTD: 1 Price: $6,470,000 Average SP/Sq. Ft.: $863 Average DOM: 44
Sales 2015 YTD: 2 Price Range: $3,575,000 to $5,700,000 Average Sales Price: $4,637,500 Average SP/Sq. Ft.: $920 Average DOM: 771
Kapalua Place Active Listings: 1 Price Range: $17,600,000 LP/Sq. Ft.: $2,355 Average DOM: 225 Size Range: 7,475 sq. ft.
Commentary: The broad range in prices (both active and sales) are reflective of several factors, not limited to neighborhood (each has its own set lot size ranges), proximity to the ocean, view and age of the home.
The homes in Pineapple Hill Phase I are limited to six footprints, and can range in age from 1989 to present day construction, and some homes are situated on more than one lot, which allows for a custom home. Pineapple Hill Estates lots are larger, and as the development was released in 2003, construction is, on average, newer. There are not the same floor plan limitations, though all must be single story with the exception of the top row.
Kapalua Place is the only beachfront residential community in Kapalua and offers just five oceanfront parcels in a community of eight residential lots.
Plantation Estates predates Honolua Ridge, which is actually annexed into the Plantation Estates Lot Owner's Association. Lots in Plantation Estates are a minimum of two acres, and have the advantage of being located on and around the Plantation Golf Course. Lot sizes in Honolua Ridge can be significantly larger (ranging upward to 30 acres). Please contact me with any questions regarding the Kapalua Residential Real Estate Market.
Overall 2016 YTD vs 2015 YTD: There were the same number of homes sold (10). Sales volume was up 33%, and the Average Sale Price was also up (+33%). Median Sale Price was down (-8%). The inventory of homes actively listed for sale in Kapalua is up slightly at 7%.
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