Gary's Blog

Friday, April 9, 2010

Maui Shoppers are Shopping!

Sales in stores open at least a year rose 9% in March, based on an index of 31 retailers compiled by the International Council of Shopping Centers. This is the best showing we have seen since March of 1999.

Maui real estate buyers, pay attention! Prices are on the rise.

Ho'olei at Wailea is seeing some good absorption, and the new listings coming on are all coming on over $2.5 million. The lowest priced units are now running $1.8 million, vs. $1.6 million last year.

Kihei Villages, on the other end of the spectrum, is seeing some great absorption. We are down to five active listings, after 26 closed sales in the past year! That is less than three months' inventory, sure to cause prices to rise. Plus there are ten units in escrow as I type this!

Welcome back to Maui, real estate buyers!!

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