Maui Real Estate Blog
Spreckelsville February 2019 Real Estate Market Update
We are right around the halfway point of peak real estate season on Maui. I thought it was worth checking in on some of the different real estate markets on island. The first on the list is the North Shore neighborhood of Spreckelsville. “Sprecks” is the home of our broker and one of our agents. While it is a small market, it sees strong demand.
The Appeal of Spreckelsville
The appeal of Spreckelsville stems from its lifestyle. The beach and the ocean play a significant component of the lifestyle whether it is taking morning and evening walks on Baldwin Beach or riding big waves on the outer reefs. Golf is a part of some residents lifestyle with the Maui Country Club offering a nine hole golf course, tennis courts, a pool and social events. It is a neighborhood where neighbors wave to each other as they walk the streets.
Recent Market Activity in Sprecks
This post looks at market activity in Spreckelsville during the last six months of 2018 and the year to date for 2019. The map below shows the current inventory of properties for sale and any homes that sold over that period. You can click on the pins on the map for additional details on the properties.
There have been only two sales in Spreckelsville since July 1, 2018. Both of those sales came during the second half of 2018. A few notes on the recent activity.
- Both sales occurred in the Sprecks V subdivision.
- The two sales during the second half of the year were the only Sprecks sales for the entire 2018 calendar year. That is also the slowest overall year of sales since 2010.
- This is the first year since 2010 that there have been no sales of off market homes.
Thoughts on Recent Activity
The bulleted points above illustrate the limited sales activity we have seen over the last 12 months. The last time sales numbers were this low, we were smack dab in the middle of the downturn. That said, the underlying markets in 2010 and 2018 are quite different. While the lack of activity in 2010 was a reflection of buyer demand, I would say 2018 and 2019 are driven by relative scarcity. All the homes in Sprecklesville below $2,000,000 have sold. The remaining inventory of homes for sale is listed substantially higher price points. The days on market for these properties falls within the norms of what we would typically see for multi million dollar properties. The two lots that are on the market are both being resold at list prices substantially higher than their previous sales.
While unlisted properties were a significant driver for sales activity between 2011 and 2017, there were no sales of off market properties during 2018. It may well be that buyers have flushed out most of the potential sellers. This is another way that scarcity has increased sales activity.
The Spreckelsville Outlook for the rest of 2019
Predicting the market in today’s day and age is increasingly challenging. Assuming that overall economic conditions remain somewhat constant, I would anticipate that 2019 will look pretty similar to 2018. I see demand for Sprecks to continue, but inventory is likely to remain the most limiting factor.
Contact The Maui Real Estate Team if you are interested in learning more about Spreckelsville and the Sprecks real estate market. You can search the current inventory of Spreckeslville Real Estate listings on MauiRealEstate.com.
Maui Real Estate Blog
Price Reduced! Spreckelsville Golf Course Home!
We just had a substantial price reduction on our listing on the Maui Country Club golf course in Spreckelsville. Situated at the Fourth Tee box, the home offers expansive golf course views from the lower level and ocean views from the second story master suite. The floor plan is well laid out and spacious with 2,945 square feet of living space. Buyers will appreciate the savings on monthly utility bills thanks to the photovoltaic system (PV). In addition to the PV, other energy efficient features include solar hot water, advanced spray foam insulation, LED and CFL lighting and energy saver appliances. This is truly a green home!
While golfers will appreciate the proximity to the Country Club, Spreckelsville is also a great neighborhood for those that like to kitesurf, windsurf, Stand Up Paddle or surf. Nearby, Baldwin Beach offers one of the best beach walks on island. Baby Beach is an ideal spot for kids to play in the ocean sheltered from big waves. You can hop on your bike or a lace up a pair of running shoes and hit the North Shore Bike Path. Paia town’s shopping, restaurants, galleries and yoga studios are only five minutes away. The airport and Central Maui shopping, services and medical facilities are ten minutes away. This is a great neighborhood for living the Maui lifestyle to its fullest.
This home was reduced from $1,649,000 to $1,495,000. The Seller is a licensed Realtor in the State of Hawaii. This property sold in 2014. Please contact The Maui Real Estate Team for assistance with other Spreckelsville Properties.