Maui Real Estate Blog
August 2022 Spreckelsville Market Update
In our last Maui Market Musings Post, we did a deep dive on the Wailea and Makena areas of Maui. We wanted to use a stand alone post to drill into a smaller neighborhood on Maui’s North Shore. That of course is the Spreckelsville neighborhood located between the airport and Paia. It’s one of the core communities we serve. Both Billy and Martin from our office call the area home. This post looks at year to date sales, current inventory and the outlook for the rest of the year.
The map above helps show sales activity for the year to date in Spreckelsville. Red pins represent sold listings and green pins represent active listings. You can click on the pins for additional details about each of the properties.
Spreckeslville 2022 Sales Overview
- Seven properties sold thus far this year as of August 6th. That includes 5 homes and 2 lots. The same number of properties sold during the same period of 2021. That said, last year’s sales were exclusively homes.
- The highest priced home to close in the neighborhood for the year to date sold for $10,000,000. The oceanfront property included a 4 bedroom, 3 bathroom house with 2,462 square feet of living space, a pool and 1 bedroom, 1 bathroom cottage with 540 square feet of living space.
- The lowest priced sale in the area for the year to date closed for $3,650,000. The home with three bedrooms and two and a half baths on Pa’ani Place is located on a large .876 acre lot.
- The median price of this year’s Spreckelsville home sales is $4,950,000. The average price of the this year’s home sales is $5,920,000. For the same period of last year, the median sales price and average sales price were $3,450,000 and $3,423,714 respectively. Homes in Sprecks aren’t exactly cookie cutter, so it would be a mistake to attribute the big increase in median and average price solely to increased values. The size, lot size, condition and location of the homes sold is also a big factor in the increased average and median prices.
- Three of the homes sold this year are located in the Old Spreckelsville area (Laulea and Pa’ani) and two homes sold are located in E Paepae Ka Puko’a (The Spencer Subdivision). Two of the three old Sprecks homes that sold are oceanfront properties.
- Both lots that sold for the year to date are located in the E Paepae Ka Puko’a subdivision.
- For the better part of the past decade, a number of homes in Spreckelsville sold prior to going to market. That trend continued this year. Two of five homes went under contract prior to hitting the MLS.
- All seven purchases in Spreckelsville thus far this year were cash transactions.
Market Outlook for the Rest of 2022
It’s difficult to forecast market conditions for the rest of the year with any sort of certainty. The market is clearly transitioning from the frenzy of 2021 and the first quarter of 2022. On Maui in general, fewer properties are going under contract as higher interest rates curtail demand. That said, the luxury home market tends to be less interest rate sensitive than other markets. The fact that all sales reported this year in Spreckelsville were cash transactions would tend to support the idea that higher rates would have a minimal impact. Overall economic conditions, the state of equities markets and other factors are likely to be bigger market drivers.
On the supply side, there are currently three active listings on the market. All three properties are pretty extraordinary, and the pricing reflects the quality of the offerings. Both homes listed have asking prices over $9,000,000. The one condo listing in Sugar Cove is a stand alone beachfront building listed for $17,000,000. Buyers hoping for inventory at the lower price points of the Sprecks market in the Sprecks V neighborhood won’t find any options currently. That said, our office is aware of a few properties coming to market in Old Sprecks in the near future. That should give buyers some options at lower price points than the current inventory.
Contact The Maui Real Estate Team
If you are in the market for property in Spreckeslville, contact the Maui Real Estate Team. Our agents know the market well. We would be happy to discuss current inventory or anything we know about that may be coming to the market in the near future. You can find more photos and details on the current inventory of Spreckelsville Real Estate Listings on MauiRealEstate.com.
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.
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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.
Maui Real Estate Blog
Classic Kama’aina Beach House in Old Spreckelsville
Beach house. These are two words in the English language that are bound to evoke a flood of positive memories. Thoughts of times spent with friends and family playing in the sand, sun and salt water flood through the mind. Nights spent on the porch listening to the palm fronds swaying in the breeze and surf crashing in the distance. This Spreckelsville home offers an opportunity to create a whole new series of memories with friends and family. Located within a two minute walk of Baby Beach, this Kama’aina Style Hawaiian Beach House offers boatloads of charm, great indoor and outdoor living spaces, a sterling location and a relaxed lifestyle.
The home itself has three bedrooms and two bathrooms. Built in 1957, it retains the charm of the old Kama’aina style. Big windows in the living room provide views of the lushly landscaped back yards. A front porch provides glimpses of the ocean and a nice place for breakfast, coffee or a quiet read. Recent updates have added modern conveniences. Efficient and quiet split system a/c systems keep things cool on the hottest days. The sellers created two indoor/outdoor bathrooms with showers and tubs outside. An impressive walk in dressing area with built in vanities and dressers were added to the master suite. The kitchen has new appliances and an island was added for additional preparation space. A brick lanai covered by a trellis is a great space to enjoy the back yard and listen to the breeze and the surf.
The closest beach is literally a couple hundred yards from the front door. Baby Beach is one of the most family friendly spots on the North Shore of Maui. A reef just offshore of the sand provides a sheltered swimming area on all but the biggest of surf days. Baby beach turns to Baldwin Beach. Baldwin is the best walking beach on this side of the island. There is also a good spot for kite boarding right where Baby Beach and Baldwin meet. Additionally, there are a number of wave riding spots in the neighborhood for all manner of wave craft. Whether you want your time in the sand and surf to be blissful relaxation or an adrenaline rush, you have options just a few minutes walk from home.
Access to the beach isn’t your only convenience. The home is also a five minute walk to the Maui Country club. Downtown Paia and its assorted shops, restaurants and yoga studios are just a few minutes drive. Movie theaters, big box stores, the Maui Arts and Cultural Center and other Central Maui amenities are ten minutes away in the other direction. A number of the island’s best schools are within twenty minutes drive of the house.
Maui Real Estate Blog
Spreckelsville Maui Real Estate Update
With the year coming to an end, we wanted to start taking a look at different communities around the island and how they performed in 2012. The first market we wanted to tackle is the North Shore community of Spreckelsville. Spreckelsville has a Paia mailing address, but it is a neighborhood unto itself. The community consists of higher end properties ranging from executive homes along the Maui Country Club golf course to multi-million dollar oceanfront estates. “Sprecks” is also home to Sugar Cove, the only beachfront condominium complex on the North Shore. Sprecks is a popular community both for kama’aina and second home owners. Owners in the area are drawn to the central location, beaches, access to Paia, proximity to the country club and the water sports accessible just offshore. Windsurfing, kitesurfing, surfing, SUP, body boarding and just plain beach walking are all available at the beaches and offshore reefs of Spreckelsville. The map below shows the location of the 2012 Spreckelsville real estate sales marked by blue pins and the current active real estate listings marked by green.
View Spreckelsville Real Estate Market Update in a larger map
Here are a few observation on the 2012 real estate sales activity in Spreckelsville.
- The eleven homes sold in 2012 represent a 57% increase in sales volume over the 7 that were sold in 2011.
- The median sales price for homes sold in 2012 was $1,495,000.
- The high sales price was $2,520,000 for a beachfront home on Stable Road.
- There was one two acre, vacant lot sold in Spreckelsville this year for $680,000.
- There was an usually high amount of sales activity in old Sprecks. The older streets in the neighborhood like Nonohe, Paani, Kealakai and Laulea typically only see one or two real estate transactions in a year. This year there were five total transactions on Nonohe and Kealalkai.
- Six of the eleven home sales this year were properties that were either unlisted or never made it to the MLS. Most of these sales were among residents who already lived in the neighborhood.
Overall, it was a pretty active year for the Spreckelsville Real Estate market. What will 2013 bring in this community? There are seven properties actively listed in the community at this time. There are five homes listed ranging in price from $1,395,000 to $10,500,000. There is also one lot with with deeded beach access for sale. You can find all of the current Spreckelsville Real Estate listings on MauiRealEstate.com. You may also contact The Maui Real Estate Team if you have questions on Spreckelsville. With our broker and one other agent calling the neighborhood home, you can rest assured that we know this community well.