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.

An Aerial View of Paani Point in Spreckelsville showing the property and Sugar Cove
An Aerial Shot of Pa’ani Point in Spreckelsville. This one acre oceanfront compound includes a primary residence and three cottages.

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.

Pete Jalbert

Maui Real Estate Blog

Beautiful Spreckeslville Home

It has been a busy month of new listings for the Maui Real Estate Team. We just brought another home to market in Spreckelsville on Maui’s North Shore. This luxury home features 3 beds, 3.5 baths and 2,680 square feet of living space. There is also a detached two car garage with a storage and office area.

10 ulupua has a striking exterior with a roof line that draws from asian architectural influences

another shot of the kitchen of 10 ulupua

The kitchen of 10 ulupua in Spreckelsville

The home in the Sprecks V subdivision is chock full of amenities. Here are a few features that stand out:

  • Ten foot ceilings
  • Gourmet kitchen with black granite counters, custom cherry cabinets and top of the line appliances
  • Imperial plaster walls
  • Stained concrete and bamboo flooring
  • Panoramic Haleakala Views from the second story

The living room of 10 ulupua in Spreckelsville

the master suite opens up to the exterior courtyard

the vanity of the master bathroom in 10 ulupua in Spreckelsville

The home builder utilized a number of energy conservation features. The home was constructed with insulated concrete forms. Combined with energy conserving windows, the home stays cooler on warm days. On demand hot water also helps to keep down utility costs.

the backyard of 10 ulupua in Spreckelsville

this aerial shot of 10 ulupua shows the home, detached garage, the maui country club golf course with the ocean on the other side of the golf course

The location of his home is arguably its greatest amenity. 10 Ulupua is close to Maui Country Club, Baby Beach and Sugar Cove. That translates to convenient access to surfing, kitesurfing, windsurfing, SUPing, tennis, golf, running, beach walks or relaxation. It is hard to find a better location on Maui for an active outdoor lifestyle. The convenience extends beyond outdoor time. The property is less than 10 minutes to the airport and other Central Maui amenities. The shops, restaurants and yoga studios of Paia are a short bike ride from the home’s front door.

This Spreckelsville Luxury Home is offered for $1,742,000. Check out the 10 Ulupua Listing Page for additional photos and details on the property. Contact The Maui Real Estate Team to discuss the property or to arrange a showing. You can search the current inventory of Spreckeslville Real Estate Listings on MauiRealEstate.com.

Pete Jalbert

Maui Real Estate Blog

Spreckelsville 2016 Year End Market Update

What makes Spreckelsville one of the more desirable communities on island? Convenience, access to water sports and beaches, proximity to Paia, proximity to Central Maui and a neighborhood golf course at the Maui Country Club. While demand may be high, the neighborhood sees limited turn over. When you have all the amenities of Spreckelsville, there aren’t many reasons to move. The post below outlines how the Spreckelsville Real Estate market fared in 2016 and gives a few thoughts on what we might expect in the coming year.

The map above shows the current active listings and the 2016 sales. Click on the individual pins for more details on the properties.

Spreckelsville continued to see signs of upwards price pressure during 2016. While volume wasn’t extraordinary, it was largely a reflection of supply. Here are some notable numbers from the 2016 Spreckelsville sales.

  • There were five homes and one Sugar Cove Condo sold this year.
  • Two of the five homes were sold prior to being listed. That continues a recent trend in the neighborhood that reflects demand for the area.
  • The Oli Oli Kai sale was the highest ever price for a property in the North Shore or Upcountry area. 120 Ulupua was the highest ever sale in the Sprecks V subdivision.
  • Sales were spread throughout Spreckelsville with one close on Stable Road, one sale in E Paepae Ka Puko’a, two sales in Old Sprecks and one sale in Sprecks V.

What will 2017 bring for this in demand North Shore neighborhood? Supply is going to be a limiting factor with only four active listings currently. If all four listings were to sell close to their current asking prices, they would be a testament to rising values. All of the listings would be a record of some kind for their property type. 600 Stable Road is priced higher than any previous home sale on the North Shore or Upcountry. 0 Paani is priced above any other lot to have sold in Sprecks. 204 Kealakai would be the highest priced non-oceanfront home sale in Spreckelsville. 2464 Waipua would have the highest cost per square foot for any home in Sprecks V and the second highest sales price in the neighborhood.

The Spreckelsville area is near and dear to the Maui Real Estate Team. Our broker Billy and agent Martin both call the neighborhood home. Either one would welcome the opportunity to talk to prospective buyers about their experiences living in the area. We keep a close eye on the market and an ear to the ground for unlisted properties. If you are a Sprecks resident considering selling or just wonder what you home might be worth in the current market, we would be happy to provide for a free evaluation of your home’s value and to discuss how we might be of assistance. Contact us today for assistance. You can see the current Spreckelsville Real Estate Listings on MauiRealEstate.com.

Pete Jalbert

Maui Real Estate Blog

Spreckelsville 2015 Midyear Real Estate Market Update

Over the last few years, the community of Spreckelsville has established itself as one of the hottest real estate markets on island. The strength of the market is evidenced by a number of high dollar sales and numerous properties that have sold without ever hitting the MLS. The community has become a popular choice for both Kama’aina and second homeowners. Residents are drawn to the community due to its great beaches, access to world class water sports, the Maui Country Club, proximity to Paia town, and the overall convenience to island amenities. After a scorching year of sales in 2014, we suspected that the 2015 market might have a tough time replicating last year’s volume of transactions. Now that we are over six months into the year, let’s take a look at what has happened in Spreckelsville thus far this year.

The map above shows the location of and information about the four properties that sold in the first half of 2015 as well as the two properties that are actively listed. The four properties sold is a decrease from the seven that were sold during the first half of 2014. Here are a few noteworthy items about the Spreckelsville sales from the first half of the year.

  • The four sales consisted of two homes, one Sugar Cove condo and one parcel of land.
  • A significant number of sales in Spreckelsville over the last few years have been unlisted properties. This proved to be true in the first half of 2015 as two of the four sales were sold prior to listing.
  • The sale of 161 Makahiki set a new high price for a home in the Kai Holu subdivision. The Kai Holu Subdivision consists of 17 agriculturally zoned lots in the middle of the neighborhood along Makahiki Street and Cane Place.

There is going to need to be a significant uptick in activity during the second half of the year for 2015 to come close to matching last year’s 14 total sales. With only two properties on the market currently in Sprecks, I have a tough time foreseeing us making up the difference. You never know though, we have already mentioned how this neighborhood is known for unlisted property sales. You can check out photos and more details for the current inventory of Spreckelsville Real Estate Listings on MauiRealEstate.com. Contact The Maui Real Estate Team if you have questions on Sprecks or to see if one of us might have a line on an unlisted property or two. Our broker and one of our agents call the neighborhood home. They can literally say that they know this neighborhood like their own backyard.

Pete Jalbert

Maui Real Estate Blog

Spreckelsville 2013 Year End Round Up and 2014 Outlook

After taking a look at the big picture of how the Maui Real Estate market performed in 2013, this is the first of what will be a few posts that look at how specific Maui communities performed in 2013. Today, we are shining the spotlight on the North Shore community of Spreckelsville. Nestled between the airport and Paia town, Spreckelsville is a collection of Oceanfront estates, golf course homes, executive homes and even a small beachfront luxury condominium complex. It has long been a popular place to live for Kama’aina. It is also a desirable spot for second home owners. The appeal of the area lies in its central location, beautiful beaches, the Maui Country Club and access to some of the best locations for wind and water sports in the world.

The map below shows all of the real estate activity that occurred in 2013. Sales are represented by red pins, the blue pin is for a property that went under contract in 2013 and closed in 2014, the yellow pins represent properties that went under contract in 2013 and have still not closed. Green pins represent all of the properties listed in 2013 that are still active.

Here are a few additional observations on Spreckelsville Real Estate activity in 2013.

  • The five total home sales in 2013 were a sharp drop from the 11 homes sold in 2012. There were quite a few unlisted properties that sold in 2012. That may account for some of the difference.
  • The second half of 2013 saw a marked increase in activity over the first half. All five sales in Spreckelsville occurred after July 1st.
  • The high sale was $3,000,000 for an unlisted home on Pa’ani. This home was on the ocean side of the street, but not oceanfront. Sales on this street tend to be relatively rare.
  • Of note, there were four properties that were listed for higher prices that went under contract in November and December and had not closed by year end. One of those four listings was an Oceanfront Home at 455 Pa’ani that closed in January of 2014 for $7,950,000. That is the second highest sale in the neighborhood all time.
  • While there has been a surge in high end activity, the lower end of the Sprecks market has not had as strong of a demand from buyers. There were three sales in Sprecks V, but we have not seen the strong appreciation that we saw at lower price points in nearby Paia. The sale of 120 Ulupua was the highest in Sprecks V to date, but it is also the biggest house and by far the biggest lot in the neighborhood. This home also had extraordinary finishing and was considered to be a value at its price.
  • There were no sales or listings at the Sugar Cove condominiums during 2013.

It will be interesting to see what 2014 brings for the Spreckelsville Real Estate market. We have already had one big close with potentially three more big closes coming in the first quarter. Beyond that, inventory is scarce with only two active listings. While there was a late surge in 2013 for beach and oceanfront properties in Sprecks, there are no active listings on the water. If we are to see any significant additional activity in 2014 beyond what is under contract, it will need to come in part from new listings or unlisted properties.

Contact The Maui Real Estate Team for additional information on Spreckelsville and the local real estate market. Our broker and one of our agents call this neighborhood home so we can give you a pretty good sense of what the Spreckelsville lifestyle has to offer. You can check out the current inventory of Spreckelsville Real Estate Listings on MauiRealEstate.com.

Pete Jalbert

Maui Real Estate Blog

Just a Short Stroll To The Beach in Spreckelsville

Inventory is getting tight on Maui. As of last week, there were no active lots listed for sale in the Paia and Spreckelsville area. We are happy to say that we have a new listing that brings the inventory up to one. Better yet, this is a great lot. Lot 16 of E Paepae Ka PuKo’a subdivision is just under 8/10ths of an acre, completely flat and usable, has underground utilities and deeded access to Spreckelsville Beach. You are roughly 150 yards from your future front door to the sand. You are also within walking distance of Maui Country Club, Kanaha Beach Park, Baby Beach and Sugar Cove. Paia Town and its shops and restaurants are a five minute drive to the East. The medical facilities and shopping of Central Maui are five to ten minutes away.

This lot is now offered for $849,000. Check out the Spreckelsville Lot with Deeded Beach Access listing page for additional photos and information. Contact The Maui Real Estate Team today to discuss the property directly or to arrange a tour!

Pete Jalbert