Fairways & Mauna Lani Resort Overview
Fairways: Although there were no closed sales in the Fairways in February, there was a unit that went into contingent status (#1405). This unit was priced at $629,000 which is in the lower to middle price range of the active properties on the market. The details of the sale will be available on the Fairways Market Dashboard when the sale becomes final. 2015 has started a little slow for the Fairways with no closed sales compared to three closed sales through the end of February in 2014. Inventory in the Fairways is still on the low side and with activity picking up, I think you’ll find the market making up some ground in March for the neighborhood.
Mauna Lani: As seen on the Market Dashboard, the Mauna Lani resort as a whole has seen an increase of new listings and a decrease of closed sales so far this year compared to the same time period of 2014. This gives a good overview of activity in the resort but may not tell the entire story. When looking at a smaller area on a micro level, the picture can take extreme swings month to month. For example, a bright spot you won’t see in the numbers is the fact that five of the 11 sales this year are properties that had been on the market for over 450 days (two of which had been on the market for over 1,000 days). This fact will skew the days on market statistic in a negative direction but most of those sales were within the average sales to listing price percentage, which is good for the market.
