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.
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
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.
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 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 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.
Maui Real Estate Blog
August 2018 Spreckelsville Real Estate Market Update
Now that we are seven months through the year, it is a good time to check on how some of the different markets around the island are faring for the year to date. First on the list is Spreckelsville. This North Shore neighborhood is a core market serviced by the Maui Real Estate Team. Sales volumes for the neighborhood are typically pretty small, but Sprecks tends to be one of the strongest markets on the island. Spreckelsville is highly unusual in that a disproportionate number of sales are unlisted properties. Constrained supply and high demand leads to buyers and their agents beating the bushes for opportunities.
This post takes a look at the activity for the year to date in Spreckelsville and some thoughts on the market outlook for the remainder of the year.
The map above shows current listings and sales for the year to date in Spreckelsville. Green pins represent active listings. The yellow pin represents a pending sale. The red pin represents a sale. You can click on the individual pins for details on the properties.
Sprecks Sales Activity
When you look at the map above, the first thing that sticks out is the solitary red pin. There has only been one sale for the year to date with one pending sale at this time. The one close was actually a bulk sale of three lots that were not on the market in the E Paepae Ka Puko’a subdivision. The pending sale is a home along Hana Highway in the Sprecks V subdivision. At this point, we are well behind the pace of 7 sales in 2017. It could well be the slowest year for sales in Spreckelsville since 2010.
Why have we seen a dip in activity? When we last checked in on the Sprecks market in March, I anticipated a slow year for sales volume. The reason I gave was a relatively small inventory. The market appears to be following my projections. Low inventory tends to keep sale volume in this neighborhood limited. This has been a year of particularly low inventory. For a good portion of the year to date, there were only two listed properties on the market. Two of the current listings have been on the market for less than 60 days.
The biggest years for sales activity in Sprecks have been when MLS sales are augmented by the sales of unlisted properties. This year, the one and only sale was an unlisted property. That is notable in and of itself, but I am wondering if the pool of potential off market sellers may be thinning. After a lot of years of off market sales activity, I am not surprised to see an ebb in purchases. Perhaps, there isn’t much fruit left to shake out of the tree. I don’t have any definitive evidence to back this up. I may well be wrong. This is just a feeling I have at this point.
Outlook for the Rest of the Year
I would anticipate a relatively quiet rest of 2018 for sales activity in Spreckelsville. As mentioned before, there is one property under contract. That said, the buyer and seller just agreed to terms this week so there are no absolute guarantees it will close. If it does, that will leave three active listings.
The sellers just reduced the price of 2409 Waipua by over $300,000. This is a big, well built, beautiful home right on the golf course. This price reduction makes this an appealing opportunity for executive home buyers. Pa’ani Point is a true legacy property. It includes an acre of oceanfront land with a legal seawall, a home and three additional cottages. At $14,000,000, the pool of buyers for homes at this price point is limited. That said, it is a value to compared to the two sales that have closed on Stable Road over the last couple of years.
You can find more photos and details for the current inventory of Spreckelsville Real Estate Listings on MauiRealEstate.com. As I mentioned above, I wouldn’t anticipate many new listings coming to market or sales of unlisted properties, but you just never know. We will continue to keep our ears to the ground for opportunities for buyers. Contact The Maui Real Estate Team if you are interested in buying or selling in Sprecks. We would welcome the chance to be of assistance.
Maui Real Estate Blog
Pa’ani Point and the Spreckelsville Lifestyle
Makena, Keawakapu Beach and Spreckelsville. What do these three areas of Maui have in common? They are the location of the last five homes to sell on the island for over $15,000,000. All three offer areas of spectacular beach or oceanfront. Makena and Keawakapu Beach are located in South Maui. They also happen to have more second home owners. This is where Spreckelsville is a little different.
Spreckelsville is located on the North Shore between Paia and the Kahului airport. It is an old Kama’aina neighborhood with a significantly higher number of year round residents. Spreckelsville is also the location of our new listing at Pa’ani Point. What is it about Spreckelsville that draws ultra high end buyers away from the gold coasts of South Maui to the North Shore?
If you are willing to pay eight figures for a home, chances are you buying the property for more than just the structures on the land or even the land itself. You are buying it for a lifestyle. That is something that Spreckelsville offers in spades.
Ocean Sports Mecca
The ocean just offshore from this waterfront neighborhood offer a plethora of wind and wave sport options. The area first gained renown for its windsurfing back in the eighties. Now you will see residents and visitors surfing, kiteboarding, SUPing, body boarding and foiling. If you don’t want to take my word for it? Check out this video featuring Kai Lenny.
Kai, the son of MRET agent Martin Lenny, has won multiple world titles in Stand Up Paddle racing and surfing, came in second on the WCT big wave world tour and has competed professionally as a windsurfer and kiteboarder. He grew up in the neighborhood and cites the location as a key reason for his love of and proficiency in the water.
You don’t have to be a big wave surfer to appreciate the ocean in Sprecks. Summer months offer small surf. Even during the winter, there are a number of protected spots where the waves don’t get bigger than head high. If you love to swim, nature offers a fantastic lap pool between the sand and the reef at Baby beach. Quite a few neighborhood kids get their first taste of the ocean in the aptly name Baby Beach. Baldwin Beach offers an excellent spot for morning and evening beach strolls, hunts for sea glass and shells or watching a green sea turtle clamber on to the sand for a nap. Living the Spreckelsville lifestyle means enjoying the neighborhood’s ocean and beach access no matter how you do it.
You Don’t Have to be a Water Person to Love Sprecks
Spreckelsville is a neighborhood where you will see families walking, riding their bikes or their golf cart around the neighborhood. There are a lot of smiles and friendly waves as people cruise around the area. There is a bike path that leads from the neighborhood to Kanaha Beach Park and Kahului. The Maui Country Club is located in Spreckelsville. They have a nine hole golf course and offer a lot of social events for members. The Spreckelsville lifestyle might include a day of surf and turf. Hitting the beach in the morning and playing a round of golf in the afternoon.
Spreckelsville has enough to offer residents that you may not want to leave the neighborhood all that often. If you do want to venture out, there is a lot to explore nearby. Paia town is within biking distance. The town is an eclectic mix of Old Hawaii Plantation and Bohemian Surfer village. Paia has good restaurants, shops and yoga studios. Ho’okipa Beach Park is located about a mile and a half past downtown Paia. It is still considered one of the proving grounds for windsurfing. It is also popular for SUP and surfing. Mama’s Fish House is located between Ho’okipa and Paia. This world renowned restaurant is still arguably the best place to eat on island and undoubtedly the best atmosphere.
If you head west from Spreckelsville, you are five minutes from Kahului. There you will find all of the island’s conveniences including big box stores like Costco, Target, Home Depot and Lowe’s. The Maui Arts and Cultural Center hosts gallery openings, world renowned musicians, theater, dance and more.
Living in Sprecks
When you read all of the attributes above, you can begin to understand why Spreckelsville is such a great place to live. Words don’t always capture the true experience. They can’t quite convey the feeling of walking out your back door with a surfboard under your arm to catch a wave at first light. Words don’t express the joy you experience from seeing the smile on your child’s face as you watch her play in the sand. They simply can’t recreate the multi-sensory experience of watching the sky change from day to night with a soundtrack of surf breaking mixed with the laughter of family and friends.
Pa’ani Point offers a rare opportunity to own one of the true legacy properties in Spreckelsville. With a home and three cottages, there is plenty of room for friends and family to experience the Spreckelsville lifestyle with you. Check out the Pa’ani Point listing page for more photos and details of this oceanfront compound. Contact The Maui Real Estate Team if you have questions on Pa’ani Point or Spreckelsville. Our broker Billy and agent Martin both call the neighborhood home. I lived in Sprecks myself for almost five years. If Pa’ani Point isn’t quite in your budget, you can find all of the other Spreckelsville Real Estate Listings on MauiRealEstate.com.