Maui Real Estate Blog
First Quarter 2023 Spreckelsville Market Update
The Maui Real Estate Team strives to keep buyers and sellers informed about market conditions via our Market Musings Posts. It’s been a while though since we provided a community of neighborhood update. With the first quarter wrapping up this week, no time is better than the present to check in on Spreckelsville, one of our backyard neighborhoods. This North Shore community situated between Paia and the Airport continues to be a popular location for Kama’aina and second home owners. Convenience, climate, beaches and world-class ocean sports distinguish this community and explain the premium sales prices. This post looks at recent sales, current inventory and market outlook.
The map above shows the Spreckelsville area. Green pins represent recent sales. Red pins signify active listings. Click on individual pins for details on the properties.
Recent Spreckelsville Sales Activity
- A total of five properties sold over the last nine months. That further breaks down into four homes and one lot.
- All four homes sold in the Old Sprecks area of the neighborhood. In fact, you could stand at the intersection of Nonohe and Pa’ani and hit all four homes with a well thrown Frisbee.
- The highest priced home to sell closed for $5,300,000. That transaction actually included two properties sold together. One is a 1940s vintage home with 3 bedrooms, 3.5 bathrooms and 2,428 square feet of living space. The home is located on a good sized lot of .57 acres. The second property consists of a smaller, one bedroom cottage with 953 square feet of living space on a 10,796 square foot lot.
- The new owner turned around and immediately sold the smaller of the two properties. That transaction closed for $2,280,000, the lowest priced home sale in Sprecks over the last nine months.
- It’s also notable that two of the four sales involved current Sprecks owners. One was expanding their holdings in the neighborhood while the other moved within the neighborhood. One sold before coming to market. That is common in the neighborhood.
- While sales weren’t close to record highs, the homes that sold closed at a premium for their location and size.
- The one lot that closed sold in the E Papae Ka Puko’a (The Spencer) subdivision. The .769 acre lot that backs up against the North Shore bike path and Hana Highway closed for $1,900,000.
- All of the sales referenced above occurred in the second half of 2022.
Current Spreckelsville Inventory
There are currently three homes for sale in Spreckelsville on the market at this time. One of the three listings is the Oasis Spreckelsville, a truly extraordinary property. The home and detached studio feature two pools with literally every square inch of the property well conceived and executed. The lowest priced offering is a very well maintained, 4,004 square foot home with a pool in Sprecks V. The asking price is $3,300,000. The third listing is the previously referenced 1940s vintage home purchased as part of the two property sale last year. The new owner is currently going through the process of subdividing the larger .57 acre lot. The property is available for purchase prior to completion of the subdivision for $4,400,000.
Spreckelsville Rest of 2023 Market Outlook
With no sales recorded for the year to date, it looks unlikely that we will hit the ten and eleven sales of 2021 and 2022 respectively. Inventory remains relatively limited and demand is down from the lofty heights of the previous two years both nationally and locally. It seems likely that the market is normalizing somewhat. Looking back over the last ten years, annual sales tended to fluctuate significantly with only 2014 and 2017 recording more than 7 sales and 2018 and 2019 recording 2 and 3 sales respectively.
With our broker Billy and agent Martin calling Sprecks their home, it is safe to say our office keeps close tabs on this neighborhood. Their presence in the neighborhood enhances their ability to assist buyers and sellers interested in this fantastic North Shore community.
Interested in Sprecks?