Maui News: Resort real estate market might have hit bottom!!!

Maui News
March 10, 2010
By HARRY EAGAR, Staff Writer

The state’s resort real estate market is not out of the woods yet, but Honolulu analyst Ricky Cassiday said he believes he has detected signs that it finally touched bottom in the last quarter of 2009.

Cassiday, whose consultancy, Data@Work, sees signs of a turnaround in the price slump. Average prices fell 20 percent in 2009. Despite the crash in the number of transactions, which dropped by more than half, Hawaii resort real estate prices kept going up.


Ariel View of Wailea, Maui Resorts

That tells a much different tale. Prices peaked in the second quarter of 2007 at $1.5 million and fell steeply to $1 million by the middle of 2009. Since then, they have stabilized…As prices have stabilized, transactions have soared, from about 125 per quarter to about 200 in the last quarter of last year.

Another sign that the market may be getting ready to turn is the appearance of bargain hunters. Whether you characterize them as thrifty shoppers, bottom feeders or vultures, Cassiday said he sees people with money looking around for deals.


The Ho‘olei condominium project in Wailea came on line after the resort real estate peaked in the second quarter of 2007. Now, it appears prices may have bottomed out, according to Honolulu real estate analyst Ricky Cassiday.

LINK TO BARGIN DEALS ON FULLY FURNISHED HO’OLEI UNITS

Link to Maui News Article in Full


CONTACT MEGHAN CLAIR REALTOR (S),ECOBROKER TO LEARN ABOUT THE BEST OPPORTUNITIES TO PURCHASE IN THE WAILEA/MAKENA RESORT MARKET

Meghan Clair
Realtor (S), EcoBroker
Coldwell Banker Island Properties
MauiGreenRealEstate@Gmail.com
(808) 463-8485 cell
(808) 874-8668 office

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