Whalers Realty Ranked 12th in Hawaii_Final.psd

May 2012
Dear Homeowner,
Aloha! Enclosed please find my market update for The Whaler. The first part of my report deals with the
condominium market island-wide on Maui. I then focus on the condominium market for the entire Kaanapali
Resort. In these reports, I will apply the data from the year to date sales statistics comparison report provided
by the Realtors Association of Maui.
The sales statistics provided by RAM compares the condominium market for the entire island of Maui for the
first four months of 2012 with the same period in 2011. The statistics show that unit sales volume is exactly
as it was last year, but both the average and median sales price for condominiums on Maui is 6% lower.
As for the statistics for Kaanapali, we again compared the number of sales for the first four months of 2012
with the same time frame in 2011. Here the statistics reveal a much different story. Unit sales volume for
condominiums in Kaanapali experienced an increase, up 28%. Unfortunately, the picture is not so bright for
sales prices. The average sales price for condominiums in Kaanapali is down 33% and the median sales price
has decreased by 30%. The decline in sales prices in Kaanapali is primarily due to the heavy discounting
continuing to take place by the developer of the new Honua Kai condominium.
As for the sales data for The Whaler specifically, I switch from a YTD comparison to comparing the sales
statistics with those that I provided to you in my November 2011 update. The number of closed sales is the
same as it was in my last market update with a total of 6 sales. An encouraging sign is that there are now 3
units currently in escrow. The Maui Multiple Listing Service reports that with 306 real estate companies on
Maui, Whalers Realty participated in 43% of all sales closed and in escrow at the Whaler! As for sales
prices, the news is mixed, the average sales price showed a modest increase of 2.4%, but the median sales
price is similar to the Kaanapali market in general being down by 27%. The number of properties being
offered for sale at the Whaler remains the same as in November with 25 apartments for sale.
When considering adding to your investment portfolio, or when you have decided to place your property on
the active market for sale, please remember to “Ask for the Best” and allow Bob & Tess Cartwright and the
crew of professionals at Whalers Realty Inc. to assist you. Please stop by one of our offices, send us an
E-mail, or call us, our contact information can be found below.
Sincerely,
Robert J. Cartwright, R® (B)
Principal Broker, CRB
P.S. If your property is listed with another Realtor, this letter is for informational purposes, and not intended to disturb that relationship. We cooperate fully via
the Maui Multiple Listing Service.
*Based on 12 months
The Whaler
Report Date: May 2012
For Sale
October 25, 2011 to May 14, 2012
Unit #
663
Bed/Bath
0/1
Floor Plan
F
Special Features
South Side Tower 2
Total of: 1
315
162
0/1
0/1
G
G
519
1/1
B
1251
1/2
WR
WR
WR
WR
WR
1/2
1/2
1/2
1/2
1/2
1/2
1/2
1/2
1/2
1/2
1/2
1/2
1/2
C
C
C
C
C
C
C
C
C
C
C
C
C
451
1/2
D
624
974
1/2
1/2
E
E
202
352
2/2
2/2
A
A
1201
3/2
PH
$1,700,000 FS
1/2 Bedroom unit(s). Average List Price of: $1,700,000
$749,000 FS
$985,000 FS
1/2 Bedroom unit(s). Average List Price of: $867,000
$2,350,000 FS
$3,100,000 FS
2/2 Bedroom unit(s). Average List Price of: $2,666,666
Ocean Front Pent House
Total of: 1
FS
FS
FS
FS
FS
FS
FS
FS
FS
FS
FS
FS
FS
1/2 Bedroom unit(s). Average List Price of: $1,022,423
Ocean Front
Ocean Front
Total of: 3
WR
$598,500
$599,000
$675,000
$700,000
$825,000
$975,000
$1,150,000
$1,250,000
$1,250,000
$1,295,000
$1,299,000
$1,325,000
$1,350,000
North Corner Tower 1
North Corner Tower 2
Total of: 2
WR
$1,795,000 FS
1/2 Bedroom unit(s). Average List Price of: $1,795,000
Ocean Front
Total of: 1
$735,000 FS
1/1 Bedroom unit(s). Average List Price of: $735,000
North Corner Tower 2
South Side Tower 2
South Corner Tower 2
South Side Tower 2
Mountain & Ocean View
South Side Tower 2
North Side Tower 2
South Side Tower 1
North Side Tower 1
Style Not Noted
South Side Tower 2
South Side Tower 1
South Side Tower 1
Total of: 13
WR
0/1 Bedroom unit(s). Average List Price of: $714,500
Ocean Front
Total of: 1
270
669
969
469
1170
657
670
907
1112
607
1257
407
411
$579,000 FS
$850,000 FS
South Corner Tower 1
Total of: 1
Tenure
0/1 Bedroom unit(s). Average List Price of: $450,000
South Side Tower 1
North Side Tower 2
Total of: 2
List Price
$450,000 FS
$3,100,000 FS
3/2 Bedroom unit(s). Average List Price of: $3,100,000
In Escrow
October 25, 2011 to May 14, 2012
Unit # Bed/Bath
Escrow Date
WR
816
0/1
Floor Plan
F
North Side Tower 1
Total of: 1
WR = Whalers Realty Inc.
Special Features
List Price
$459,000 FS
0/1 Bedroom unit(s). Average List Price of: $459,000
Page 1 of 2
Tenure
The Whaler
Report Date: May 2012
In Escrow
October 25, 2011 to May 14, 2012
Unit # Bed/Bath
Escrow Date
WR
973
602
2/2
2/2
Floor Plan
A
A
Special Features
South Corner Tower 2
O/F North Corner Tower 1
Total of: 2
List Price
Tenure
$1,195,000 FS
$2,100,000 FS
2/2 Bedroom unit(s). Average List Price of: $1,647,500
Sold
October 25, 2011 to May 14, 2012
Unit # Bed/Bath
Sold Date
WR
1064
0/1
Floor Plan
G
North Side Tower 2
Total of: 1
259
456
1/1
1/1
B
B
2/2
WR = Whalers Realty Inc.
Page 2 of 2
Tenure
3/7/12
$525,000 FS
$700,000 FS
12/27/11
12/15/11
1/1 Bedroom unit(s). Average Sold Price of: $612,500
South Corner Tower 2
Total of: 1
$430,000 FS
Sold Price
0/1 Bedroom unit(s). Average Sold Price of: $430,000
South Side Tower 2
North Side Tower 2
Total of: 2
1273
Special Features
$1,150,000 FS
4/23/12
2/2 Bedroom unit(s). Average Sold Price of: $1,150,000
web site www.whalersrealty.com
email sales@whalersrealty.com