2014 has been a great year so far for PowerPlay. We’ve seen the market improvements continue to solidify across the US, both in terms of sales velocity and average price, and we have experienced record sales months at all of our active projects. And what better way to celebrate than by hitting ¼ billion dollars in sales to date, of which over $100 million has been in the last year.
At Honua Kai Resort & Spa on Maui, we have sold 70 homes in the past 18 months and set a new record this May with 12 closings totaling $18M in sales that month and a further $17M of sales in escrow. The market in Hawaii continues to improve and buyers continue to be drawn to what is arguably the best new condo product on West Maui.
The market is ablaze in Fort Worth as well. Montgomery Plaza, located in the heart of the West Seventh Street District downtown, hit record-breaking sales last month with 7 homes closed in May and another 6 closed in the first two weeks of June. With the economy across Texas continuing to thrive, we are looking forward to a very busy summer season at Montgomery Plaza.
In California, we have seen similar results at The Residences at W Hollywood, a luxury property located in the heart of Hollywood. There has been a strong increase in demand at the higher end segment of the market where we have just closed another Penthouse at over $3M, leaving the project close to 85% sold out.
Looking forward to the second half of 2014, we are excited for what is coming and would like to thank our clients, buyers, and team of outstanding sales and marketing professionals, for all the support and hard work.