33-Month High for Maui Condo Sales

Condominium sales read 33-month high on Maui in December 2012. Photo by Sonia Isotov.

By Sonia Isotov

While home sales on Maui declined slightly in December 2012, condominium sales increased to a 33-month high of 138 units sold, according to statistics released Tuesday by the Realtors Association of Maui.

Homes sales on Maui in December 2012 declined to 82 from 84 homes sold in November 2012. Condominium sales were up to 138 units sold from 99 units in November 2012, and 89 units sold one year ago same period.

In December 2012, the residential home median price rose to $511,750 from $467,500 in the previous month, and $411,000 in December 2011.

Condominium median sales price on Maui decreased to $382,450 in December 2012 from $400,000 in November 2012, and $304,000 one year ago in December 2011.

In land sales, the median lot price declined to $315,000 from $455,000 in the previous month and $375,000 one year ago. In land sales, 26 land lots were sold in December 2012, 22 lots were sold in the previous month, and nine lots were sold one year ago same time period.

In 2012, 933 homes were sold and 33.8% were REO (bank owned) or short sale; 1,248 with 21.5% REO or short sale; and 173 lots were sold with 18.5% REO or short sale.