Maui Home, Condo Prices Continue Upward TrendWendy Osher · February 14, 2017, 2:56 PM HST (Updated February 15, 2017, 5:52 AM) · 2 Comments
Home sales on Maui were down in January from month before levels with a total of 65 homes sold for a median price of $655,000, according to new data released by the Realtors Association of Maui.
That’s 33 units less than what was sold in the previous month, but 8 units more than the 73 units that were sold at the same time last year.
The median price of homes sold on Maui was down $45,500 from December, and up $25,000 from the same time last year, according to the report.
The greatest number of homes sold in January was in Central Maui where 24 homes sold for a median price of $572,778, followed by Kīhei where 8 homes sold for a median of $735,000, according to RAM data.
According to the RAM, “Prices continue trending upward,” while, “Monthly sales number decreased across the board (normal for January each year).” The RAM also reports that inventory has increased for the “high season” which runs from December through April.
The Realtors Association of Maui reported a sharp decline in condo sales from month before levels with 96 units sold in January–that’s down 26 units from the previous month, but up 13 units from the same time last year.
The median price for a condo in January was $537,500, up $123,000 from the December median of $414,500, and also up from the $395,000 price tag at the same time last year, according to the RAM.
The greatest number of condos sold in January was in Kīhei where 36 condos sold for a median price of $475,000, followed by Nāpili/Kahana/Honokōwai where 15 condos sold for a median of $395,000, according to RAM data.
The full report is available at the following direct LINK.