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Maui Median Home Price Drops to $540,000 in May

Maui home sales. Maui Now image. [1]

Maui home sales. Maui Now image.

By Wendy Osher

Home sales on Maui were down in May from the same time last year with a total of 85 homes sold for a median price of $540,000, according to new data released by the Realtors Association of Maui.

That’s 1 unit more than what was sold in the previous month, but 24 units less than the 109 units that were sold at the same time last year.

The median price of homes sold on Maui was down $43,000 from April, and down $9,000 from the same time last year, according to the report.

The greatest number of homes sold in May were in Central Maui where 29 homes sold for a median price of $429,000, followed by Kīhei where 18 homes sold for a median of $517,125, according to RAM data.

The Realtors Association of Maui also reported a decrease in condo sales with 116 units sold in May–that’s down 20 units from the previous month, and down 23 units from the same time last year.

The median price for a condo in May was $476,000, up from the April median of $403,500, and up from the $380,000 price tag at the same time last year, according to the RAM.

The greatest number of condos sold in May were in Kīhei where 33 condos sold for a median price of $310,000, followed by Kāʻanapali where 27 condos sold for a median of $1,075,000, according to RAM data.