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Spreckelsville 2014 Real Estate Year End Review and 2015 Outlook

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The Maui Real Estate Team Blog has been using the month of January as an opportunity to look back at the year in sales for 2014 and to look forward to what we might expect in 2015. Today, we wanted to focus on Spreckelsville. This North Shore neighborhood continues to see increased demand from both primary residents and second home owners. Great beaches, access to some of the best wind and wave sport areas on the planet, the Maui Country Club, proximity to Paia, proximity to quality schools and general accessibility are important reasons for the neighborhood’s desirability. We wanted to take a look at the properties sold this year, some of the most notable numbers from the Sprecks year in sales and some thoughts on what we might expect in 2015.

The map below shows the real estate activity that occurred in Spreckelsville during 2014. The red pins represent properties that closed during the year. The yellow pin represents a sale that went under contract in 2014 and closed in 2015. The orange pin represents a property that came on the market in 2014 and went under contract in 2015. The green property represents a property that was put on the market in 2014 and is still actively listed for sale. You may need to zoom in on the map to see all of the sales activity. Click on the individual pins to learn the details of each sale.

The Spreckelsville Real Estate market experienced a particularly busy year for sales activity in 2015. Here are the most noteworthy numbers from the year in sales.

  • The 14 total sales was busier than any other year in Spreckelsville according to MLS data. The 14 total sales included three transactions that did not appear in the MLS due to a lack of Realtor involvement.
  • Of the 14 sales, 50% of the properties were not listed at the time that they sold. That is pretty unusual for the Maui market, and it speaks to buyers beating the bushes to find properties.
  • There were 3 parcels of land that sold in 2014. All three sales were located in the E Paepae Ka PuKo’a subdivision. That total included the last developer owned lot in the subdivision.
  • There was one sale that closed in Sugar Cove during 2014. That was a front row unit in building B. There was one additional unit that went under contract in 2014 and closed in 2015.
  • This was a busy year for oceanfront sales in Spreckelsville with four homes selling on the water. There was also one beachfront unit at Sugar Cove.
  • The highest priced sale in Spreckelsville was 473 Laulea. It closed for $8,250,000 in February. That property includes over 3 acres of oceanfront land with a 5,000+ square foot home. That was the second highest ever sale in Spreckelsville.
  • The Maui Real Estate Team was the most active Real Estate Brokerage in Spreckelsville during 2014. We represented eight buyers and sellers. We were the buyer or seller’s brokerage in over 50% of the transactions that involved Realtors.

I think we would be hard pressed to see the same volume of sales activity in Spreckelsville during the coming year. Lack of inventory is likely to be a factor with only two properties on the market. Any sizable volume of sales is going to have to come from properties that are as of yet to be listed or some that never make it to the market. We saw quite a few sales come from unlisted properties last year. Buyers may need to beat the bushes again to find sellers.

With limited inventory available, it pays to work with people who know the neighborhood well. Our broker Billy and agent Martin both call Spreckelsville home. They are well positioned to hear about anything unlisted or something new coming to the market. They are also great resources for questions on the neighborhood. Contact The Maui Real Estate Team if you are interested in buying or selling property in Spreckelsville. You can also check out the current active Spreckelsville Real Estate listings on MauiRealEstate.com.

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1/27/2015

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