The median price for a single-family home on Maui rose to $774,223, according to the Realtors Association of Maui. That’s up more than $105,000 from the same time last year when the median was around $668,000.
The number of units sold was 88, down -21.4%.
According to the RAM report, ” Prices are still rising in most areas, and the number of homes for sale is still low, but there is a general shrinking of year-over-year percentage change gaps in sales, inventory and prices.”
Condos, meantime, are near the half-a-million dollar mark at $499,000 for the median price in October. That’s down -3.6% from the same time last year. A total of 132 condos were sold last month, down -2.2% from October of 2017.
The RAM reports that inventory was down for both homes and condos with a decrease of 13.6% for single-family homes and drop of 24.5% for condominiums.
According to the RAM, “homebuilder confidence remains positive, homeownership rates have increased in the key under-35 buyer group and prices, though still rising, have widely reduced the march toward record highs.”
The full report is posted online.
