Maui's November Real Estate Statistics

Brief Maui Statistics Overview:

November’s Sales Volume – Residential Sales came in at 58 homes sold, while Condo Sales decreased to 66 units sold. Land sales came in at 6 lots.

November’s Median SALES prices – Home median prices rose to $445,000 and Condo median prices rose to $349,990. Land median price was $362,500.

Days on Market for Residential homes = 166 DOM, Condos = 147 DOM, Land = 136 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 compare January – November 2010 to January – November 2009. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends. 

Year to Date: Residential unit sales rose (+23%), average sold price = $758,398 (+6%), median price = $460,000 (-8%) and total dollar volume sold = $564,247,922 (+31%).

Condo unit sales increased (42%), average sold price = $651,062 (-8%), median price = $380,000 (-18%). Total Condo dollar volume sold = $686,870,761 (+30%).

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 (+12%), average sold price = $498,347 (-57%), median price = $405,500 (-19%), Total dollar volume = $55,814,854 (-52%).

Also, total sales for immediately past 12 months: Residential = 829, Condo = 1,136, Land = 123.

December 5, 2010 – Active/Pending/Contingent status inventory:

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

Homes   974     976    1,001     981      994    1,008    1,007   1,040   1,059   1,043    1,040    996       1,022

Condos 1371  1,347   1,394   1,455   1,503    1,412    1,423   1,449   1,494   1,567    1,541   1,495     1,496

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

Disclaimer: Zooming in on the figures of a specific geographic area or property type may lead to different conclusions that the overall view.  Maui’s market place is much smaller than Oahu’s, and a few high or low sales have a greater effect on the statistical numbers without necessarily indicating a big market swing one way or another.

Data and statistics provided by the Realtors’ Association of Maui (RAM).