Maui Real Estate Blog
Spreckelville Real Estate June 2021 Market Update
While last week’s stats post was the first in a long time, it’s been even longer since I posted a neighborhood specific update. With that in mind, no time better than the present to catch up on the real estate happenings in the Spreckelsville neighborhood on Maui’s North Shore. This beachfront community is a favorite of the Maui Real Estate Team. Our broker Billy calls it his home as does Martin Lenny, one of our agents. The combination of convenient location, great beaches and access to world class wind and water sports make this an incredibly desirable location. Today’s post takes a look at market activity during the Covid-19 era.
Notable Sales Numbers
- Eight properties sold in Spreckelsville between April of 2020 and June of 2021. That includes 6 homes and 2 lots.
- Seven of the eight sales were cash transactions. The one other sale was a trade.
- The Maui Real Estate Team represented the buyer or the seller on seven of the eight sales.
- There was only one off market sale during this period. All of the other sales made it to the MLS.
- The sales activity was spread throughout all but the Kai Holu Subdivision. The sales included one home closed in the Sprecks V area, one home on Stable Road, one home and one lot in E Paepae Ka Puko’a (The Spencer Subdivision). The rest of the sales were in Old Sprecks.
- One oceanfront home closed thus far during Covid. There is a second oceanfront home pending.
- The highest priced transaction to close came in at $4,000,000 for a home on .57 acres on Stable Road. The four bedroom, two bath home sits one lot back from the oceanfront with easy beach access. This transaction closed in March of 2021.
- The highest priced lot closed for $2,750,000. This .789 acre lot is situated off of Nonohe in Old Sprecks is right next to the Maui Country Club with deeded access to Stable Road.
- In addition to the 8 sales, there are three properties under contract including our office’s listing at Sugar Cove.
Thoughts on The Sprecks Market
Maui’s high end real estate market boomed during Covid-19. More accurately, it took off in late 2020 and through the first half of 2021. Home sales over $2,000,000 are up 335% during the first five months of 2021 compared to the same period of 2020. They are up 368% compared to the first five months of 2019. Areas like Kapalua, Ka’anapali and Upcountry Maui saw record sales volume for luxury property. That also meant the occasional bidding war and an above asking sales prices became more common.
The Sprecks market hasn’t hit the same heights as some of the other areas of the island. While the five properties sold for the year to date is the highest since 2014, it wasn’t unprecedented. None of the properties that sold closed above asking price and we only saw one multiple offer situation. This is not an indictment of the Sprecks market or the appeal of the neighborhood. It is more of a reflection of the fact that Spreckelsville is a high demand low sales volume area. Inventory levels consistently remain low with limited turnover. Many of the markets that saw the sharpest increase in activity came into Covid with an abundance of inventory. Plentiful supply combined with strong demand to create record sales volumes.
Spreckelsville Market Outlook
Based on the above, I imagine it isn’t too much of a surprise that I view inventory as the driving factor in the market for the remainder of 2021. There are currently four active listings and three pending listings. Based on recent trends, I would imagine that additional inventory will remain relatively scarce. Check out our Spreckelsville Real Estate listings page for the current inventory of homes for sale. Contact the Maui Real Estate Team if you are interested in buying or selling a property in Spreckelsville. We know the market since it is our own backyard.
Maui Real Estate Blog
Spreckelsville 2020 Market Update
Now that we are a little over a month into the New Year, I thought it would be a good time to check in on the Spreckelsville Real Estate market. This North Shore Neighborhood remains one of the most desirable locales on the island. It offers good beaches, world class ocean sports just offshore and a very convenient location. Two of the members of the Maui Real Estate Team Call it home. This post takes a quick look at how 2019 shaped up for the neighborhood and how things are looking for 2020.
The map above shows sales activity in Sprecks since January of 2019. Green pins represent active listings. Red pins show sales. Clicking on the individual pins provides details on the properties.
Spreckelsville Sales Overview
- There were three sales in 2019 in Spreckelsville. The sales included two homes and one lot. Thus far, one home sold in Spreckelsville during 2020.
- The highest sales price in 2019 went to 316 Pa’ani. This oceanfront sale included an acre of land, a main house and three cottages. It sold for $8,600,000.
- The one other home that sold was a beachfront property on Stable Road. What was most notable about this transaction was that it was a tenants in common purchase. The buyer was purchasing the rights and use of one home on a two home property. That makes the $4,025,000 purchase price somewhat eye opening.
- The solitary lot that sold closed for $1,600,000. The lot in the E Paepae Ka Puko’a aka the “Spencer” subdivision included just under an acre of land and deeded beach access.
- The one home sale for 2020 was in the Sprecks V subdivision that abuts against the Maui Country Club Golf Course. The sales price of $2,300,000 set a new record for the subdivision.
- The Maui Real Estate Team represented parties on two of the last three home sales in the neighborhood.
Spreckelsville 2020 Market Outlook
The 2019 Sprecks Real Estate Market saw relatively meager activity continuing recent trends. The lack of sales don’t reflect a lack of demand. Instead, it speaks to tight inventory. With just three properties on the market at this time, I would expect that the sales totals for 2020 won’t jump off the page. About four to five years ago, a good chunk of the Sprecks sales were unlisted properties. While that has not been the case the last two years, I would not be shocked to see some unlisted sales this year. I know there are some buyers beating the bushes. I also know that there are some unlisted properties that could be available for purchase.
Contact The Maui Real Estate Team if you are interested in buying or selling property in Spreckelsville in 2020. We know the market well and always have our ears to the ground for opportunities. Check out the MauiRealEstate.com for the current Spreckelsville Real Estate listings.