Maui October 2010 Sales Statistics

 

 

Maui October 2010 Sales Statistics

Brief Maui Statistics Overview:

October’s Sales Volume – Residential Sales held at 60 homes sold, while Condo Sales decreased to 71 units sold. Both Residential and Condos show a decrease reflecting the end of the Home Buyer Tax Credit program earlier this year. Land sales came in at 5 lots.

October’s Median SALES prices – Home median prices slipped to $435,000 and Condo median prices rose slightly to $320,000. Land median price was $210,000.

Days on Market for Residential homes = 182 DOM, Condos = 141 DOM, Land = 199 DOM.

(General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells, it can move this indicator upward, and vice versa. RAM’s Days on Market are calculated from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days of escrow time.) Also – Short Sales transactions can often take 4-6 months to close thereby extending the marketplace’s average DOM.

“Year to Date Sales” numbers only compare January – October 2010 to January – October 2009. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends.

Year to Date: Residential unit sales rose (+27%), average sold price = $768,148 (+8%), median price = $460,000 (-8%) and total dollar volume sold = $521,572,222 (+36%).

Condo unit sales increased (46%), average sold price = $666,472 (-8%), median price = $385,000 (-18%). Total Condo dollar volume sold = $656,474,605 (+34%).

Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. Land lot sales increased (+25%), average sold price = $506,074 (-60%), median price = $405,500 (-21%), Total dollar volume = $52,631,729 (-50%).

Also, total sales for immediately past 12 months: Residential = 836, Condo = 1,139, Land = 134.

November 7, 2010 – Active/Pending/Contingent status inventory:

             Nov.    Oct.   Sept.   Aug.   July    June   May   April   Mar.   Feb.   Jan.   Dec.09    Nov.

Homes  976    1,001    981     994   1,008    1,007   1,040  1,059  1,043  1,040   996    1,022     1,018

Condos 1,347 1,394  1,455  1,503   1,412    1,423   1,449  1,494  1,567  1,541   1,495 1,496     1,508

Land     596     601     620     604       601      591      579    585    568    561      522     585        592

Statistics from the Realtors Assocation of Maui