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Pukalani homes selling faster than all other neighborhoods on Maui

When a home is priced well and has the qualities people want, it tends to sell fast! which is why the measurement of how quickly homes go under contract is an important signal for the desirability of a neighborhood. I just completed a review of sales records and found that Pukalani real estate is the fastest selling on Maui, read below for my review of “days to contract” throughout the island and insights on Pukalani home sales.

Pukalani homes selling faster

I’ve reviewed the Maui MLS sales records for the last 6 months and then calculated the days-to-contract for each sale. Below is my custom chart showing how each area of the island compares for average days to contract.

This chart shows that Pukalani homes sell faster than any other neighborhood on Maui.

This chart shows that Pukalani homes sell faster than any other neighborhood on Maui.

As you can see from the chart above, it took an average of 56 days for Pukalani homes to go under contract. This is 11 days faster than Makawao homes and 80 days faster than Kula homes, which makes Pukalani the clear winner in the Upcountry Maui real estate market.

Days to Contract versus Days on Market

Most Maui real estate websites talk a lot about days on market which is certainly a helpful general statistic. The important thing to understand is that days on market is a measurement of the total number of days it takes before a property sale completes. The DOM (days on market) is useful to sellers but, since timeframes for escrow vary, it’s not so helpful for buyers since the DOM doesn’t accurately show how fast a market is moving.

Buyers benefit from knowing the Days to Contract since that number gives a clear picture of how quickly properties get tied up (and are no longer available for purchase). I’ve written about this before in my recent article http://blog.realestatemaui.com/2016/01/15/pukalani-affordable-homes/.

Why are Pukalani homes selling so fast?

This Pukalani home on Ililani Street went under contract after only 3 days!

This Pukalani home on Ililani Street went under contract after only 3 days!

People love the convenient location that Pukalani has to offer, but the main appeal is that fact that Pukalani homes are more affordable that all the other areas upcountry. A review of recent Pukalani home sales shows that the average sales price for the last 6 months is $653,551 which is far below the Makawao average of $737,778 and significantly lower than the Kula average of $1.08M.

Pukalani homes for sale – a mini update

As of 03/22/2016 there are 14 active Pukalani homes for sale ranging in price from $560,000 to $1,298,000. The average asking price is currently $794,278. There are 10 pending Pukalani home sales and 7 out of the 10 are listed under $700,000. Below is a list of the 5 most recently updated Pukalani home listings.

135 PIIMAUNA ST

135 PIIMAUNA ST
Price: $1,250,000
Beds: 4
Baths Total: 3.5
Sqft: 2382
Acres: 0.3183
City: Pukalani
State: HI
Zip: 96768

2840 IWALANI ST

2840 IWALANI ST
Price: $870,000
Beds: 3
Baths Total: 2
Sqft: 1232
Acres: 0.1768
City: Pukalani
State: HI
Zip: 96768

44 ALEA PL

44 ALEA PL
Price: $750,000
Beds: 4
Baths Total: 1
Sqft: 1130
Acres: 0.4329
City: Pukalani
State: HI
Zip: 96768

2964 IOLANI ST

2964 IOLANI ST
Price: $1,250,000
Beds: 5
Baths Total: 3.5
Sqft: 2550
Acres: 0.501
City: Pukalani
State: HI
Zip: 96768

256 HAULANI ST

256 HAULANI ST
Price: $1,100,000
Beds: 3
Baths Total: 2
Sqft: 1134
Acres: 0.5237
City: Pukalani
State: HI
Zip: 96768

About Michael Scott

Michael is a second generation Maui Realtor with 17 years of experience representing sellers and buyers of condos in Kihei and Wailea. You can reach him Direct by calling 808.283.8822 or send an email to Michael@RealEstateMaui.com.

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