September 2019 Market Update

Posted

(Image from BreakthroughBroker.com)

Maui Real Estate Update


September 18, 2019

August 2019 stats are in. Lack of inventory, higher prices, and challenges with affordability continue to drive fewer sales in all categories (residential, condominium, and vacant land), though median sales prices continue to rise for all categories. Residential homes sales are down 10% from 800 homes sold to 722 homes sold for August 2019 YTD compared to August 2018 YTD and condominium sales are down 6% from 1,158 condos sold to 1,088 condos sold for the same time period. The YTD median sales price for homes is up 7% from $700,000 to $755,000, and the YTD median sales price for condos is up 4% from $497,500 to $515,000. For a detailed report of each area on Maui for homes, condos, and land, please CLICK HERE.

South Maui leads the County with 39% of sales closed, followed by West Maui at 26% of sales closed, Central Maui at 18%, Upcountry at 9%, North Shore at 5%, and East Maui at 1% of sales closed.

The lowest-priced fee simple property sold on the Island of Maui in August was a 2 bedroom, 1.5 bath condo at the Puuone Towers and Plaza Condominium that sold for $163,400. The highest-priced sale in August was a 4 bedroom, 4.5 bath beachfront home in Makena that sold for $14,000,000.

Please let me know if I can help you turn your real estate dreams into a reality!