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Maui February Home Prices Up 13% From Last Year

Wendy Osher · March 14, 2017, 2:39 PM HST (Updated March 14, 2017, 3:57 PM) · 5 Comments
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Island home sales. Maui Now image.

Home sales on Maui were down, and prices were up in February from month before levels with a total of 63 homes sold for a median price of $672,575, according to new data released by the Realtors Association of Maui.

That’s 3 units less than what was sold in the previous month, and 6 units less than the 69 units that were sold at the same time last year.

The median price of homes sold on Maui was up $12,575 (+1.9%) from January, and up $77,575 (+13%) from the same time last year, according to the report.

The greatest number of homes sold in February was in Central Maui where 23 homes sold for a median price of $570,000, followed by Kīhei where 13 homes sold for a median of $765,000, according to RAM data.

According to the RAM, “Residential and Condo Prices continue trending upward,” while, “Inventory has increased for High Season (Dec. – April).”  The RAM also reports that “Canadian investors have been big participants in Maui’s real estate market in years past, however the current Canadian Dollar exchange rate (.74 US $) may motivate Canadian investors to sell, rather than buy OR sell and reinvest in othe r Maui properties.”

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The Realtors Association of Maui reported a increase in condo sales from month and year before levels with 113 units sold in February–that’s up 16 units from the previous month, and up 9 units from the same time last year.

The median price for a condo in February was $465,000, down $60,000 (-11.4%) from the January median of $525,000, and up from the $431,950 (+7.65%) price tag at the same time last year, according to the RAM.

The greatest number of condos sold in February was in Kīhei where 45 condos sold for a median price of $403,900, followed by Nāpili/Kahana/Honokōwai where 19 condos sold for a median of $340,000, according to RAM data.

The full report is available at the following direct LINK.

Wendy Osher
Wendy Osher leads the Maui Now news team. She is also the news voice of parent company, Pacific Media Group, having served more than 15 years as News Director for the company’s six Maui radio stations.

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