Median Sales Price decreased 19.6% to $1,007,000 for single family homes but increased 21.9% to $984,450 for condominium homes, according to the latest report released by the Realtors Association of Maui for June 2023.

The June median is down nearly 20% from last month’s $1,252,500 median. There were 70 homes that closed in June 2023, down from the 86 that closed at the same time a year ago.

The greatest number of homes in June were sold in Kahului, where 15 single family homes were sold for a median of $935,000. Dollar volume was $13,969,888, according to the RAM data.

There were also 10 single family homes sold in Wailuku for a median price of $957,500, and dollar volume of $10,375,000, according to RAM.

The greatest median prices were in Olowalu and Kapalua where median were listed at $7.5M and $6.04M respectively.

The days on the market and monthly supply of inventory increased for both single family homes and condominium homes according to data compiled by RAM:

• Days on Market increased 4.5% for single family homes and 71.6% for condominium homes.
• Months Supply of Inventory increased 33.3% for single family homes and 68.8% for condominium homes.

The RAM report also noted the following data for new listings, pending sales and inventory:

• New Listings decreased 46.2% for single family homes and 25.5% for condominium homes.
• Pending Sales decreased 6.3% for single family homes but increased 1.2% for condominium homes.
• Inventory decreased 14.6% for single family homes and 8.6% for condominium homes.

The full Realtors Association of Maui report is posted online here.

*Cover photo: File Maui Now