Maui Median Rises to $627,500 in MarchApril 13, 2015, 4:55 PM HST · Updated April 14, 1:46 PM 0 Comments
By Wendy Osher
Home sales on Maui were up in March despite a significant rise in the median home price to $627,500, according to new information released by the Realtors Association of Maui.
According to the report, there were a total of 84 homes sold on Maui last month, up from the 60 sold in March of 2015, and the 70 units sold in April of 2014.
The median price of homes sold on Maui was up $68,875 from March, and up $37,000 from the same time last year, according to the report.
The greatest number of homes sold in March were in Central Maui where 19 homes sold for a median price of $465,918, followed by Kīhei where 16 homes sold for a median of $591,500, according to RAM data.
The RAM report notes that, “Early 2014 monthly numbers were quite strong, making early 2015 seem ‘a bit pale’ in comparison.” The report states that sales are expected to “even out” and “progress” as the year progresses.
The Realtors Association of Maui also reported an increase in condominium sales, which rose to 122 units sold, with the median price declining to $442,500 in March.
The greatest number of condos sold in March was in Kīhei where 38 condos sold for a median price of $332,500, followed by Nāpili/Kahana/Honokōwai where 23 condos sold for a median of $442,500, according to RAM data.