The median price of a single-family home on Maui dropped to $705,000 in May according to the latest monthly report filed by the Realtors Association of Maui.
That’s down nearly -14% from the month before when the median was listed at $819,500; but up +18.7% from the same time last year when the median was $690,000.
The RAM reports that the median price of a single family home year-to-date is $740,000, up +7.6% from the 2018 YTD figure, when the median was $688,025.
On Maui, there were 133 home sales in May, up more than +70.5% from April when 78 homes changed hands. The greatest number of homes that sold was in Wailuku where 27 units sold for a median price of $655,000, followed by Kīhei and Kahului where 18 homes in each of those areas for a median price of $762,500 and $652,750 respectively.
In the condominium market, the median price was $518,500 in May, up +16.6% from the month before when the median was $444,444. Year to date, the median price for a condo is $517,000, up +6.7% from the $484,650 price reported at the same time last year, according to RAM May data.
A total of 142 condos sold in Maui County in May, with the majority (54 units) sold in Kīhei for a median price of $437,500.
