In June Wailea saw only five condominium closings. The surprisingly high median sale price of $1.75 million is a function of two of the five sales being in Wailea Beach Villas. The per square foot average, the better measure in our view, fell 13% from the 2007 average to $1,075. With nearly 180 condominiums for sale, inventory remains very high. Two homes sold in June for a median price of $1.3 million and a per square foot average of $602. Neither of those homes offered an ocean view. While it is always difficult to draw conclusions from only a few data points, it is clear the Wailea real estate market, like the overall Maui real estate market, is in retreat. For details, contact us!