Maui Real Estate Sales Decline

Maui home, condo, and land sales have declined from one year ago and one month ago. Photo by Sonia Isotov

By Sonia Isotov

Maui residential, condominium, and land sales declined for the month of May 2012, according to figures released today by the Realtors Association of Maui.

Home sales on Maui for May 2012 decreased nearly 3% to 728 from 749 in April 2012, and nearly 20% when compared to the previous year when 917 homes were sold in May 2011.

Maui condominium sales for May 2012 decreased 6% to 998 from 1,066 in April 2012, and nearly 14% when compared to the previous year when 1,159 condominiums were sold.

In Maui land sales, 483 land lots were sold during May 2012, which is nearly a 7% decrease in one month, and a one year decrease of 9% from the 521 land lots sold in April 2011.

The residential median home price for a home on Maui dropped 9% from one year ago to $435,000, down from $450,000 the month before and $450,000 a year ago.

Monthly figures for the month of May 2012 show a sales decline in homes and condos which is typical of most years as it reflects the post winter high-season contracted sales that closed in March and April.

The May 2012 report on Maui real estate can be found in its entirety at http://www.ramaui.com/.