April 2019 Market Update
“Jacaranda mimosifolia (Jacaranda) Flowering habit at Crater Rd Kula, Maui, Hawaii.” by Forest and Kim Starr is licensed under CC BY 3.0
The jacarandas are starting to bloom upcountry! Every year we are treated to the beautiful display of bright purple flowers on the many trees planted along the winding upcountry roads and green pastures. Many artists and photographers along with Maui residents and visitors alike venture upcountry to take in this annual treat.
First quarter 2019 stats are in. Low inventory continues to impact residential home sales, though median sales prices continue to rise for both residential homes and condominiums. Residential homes sales are down 17% from 286 closed sales to 238 closed sales for First Quarter 2019 compared to First Quarter 2018 and condominium sales are up 9% from 372 closed sales to 405 closed sales for the same time period. The YTD median sales price for homes is up 8% from $682,468 to $735,000 and the YTD median sales price for condos is up 10% from $476,250 to $525,000. For a detailed report of each area on Maui for homes, condos, and land, please CLICK HERE.
South Maui had the highest number of closed sales for the First Quarter of 2019 – 263 sales, 38% of the closed sales with a total sales volume of $216,791,821. West Maui had the 2nd highest number of closed sales – 152 sales, 29% of the closed sales with a total sales volume of $185,672,368. Central Maui had the 3rd highest number of closed sales – 114 sales, 17% of the closed sales with a total sales volume of 74,632,930.