Maui's December 2010 Real Estate Statistics

Brief Maui Statistics Overview:

December’s Sales Volume – End of the year figures reflect a push to close transactions by year’s end. Residential Sales rose to 70 homes sold, while Condo Sales increased to 92 units sold.  Land sales came in at 14 lots sold.

December’s Median SALES prices – Home median prices rose to $465,706 and Condo median prices rose slightly to $355,747. Land median price was $394,850.

Days on Market for Residential homes = 139 DOM, Condos = 171 DOM, Land = 190 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 Too Date: Residential unit sales rose (+17%), average sold price = $747,891 (+5%), median price = $460,000 (-8%) and total dollar volume sold = $608,783,134 (+23%).

Condo unit sales increased (39%), average sold price = $648,043 (-10%), median price = $377,500 (-16%). Total Condo dollar volume sold = $743,305,403 (+25%).

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 (+14%), average sold price = $513,571 (-53%), median price = $405,000 (-19%), Total dollar volume = $56,223,494 (-47%).

Also, total sales for immediately past 12 months: Residential = 812, Condo = 1,148, Land = 127.

January 10, 2011 – Active/Pending/Contingent status inventory:

           Jan. ‘11     Dec.    Nov.    Oct.   Sept.    Aug.   July   June   May   April   Mar.   Feb.   Jan. ‘10

Homes       963      974     976    1,001    981      994   1,008  1,007  1,040  1,059   1,043  1,040      996

Condos    1,383   1,371  1,347    1,394  1,455   1,503  1,412  1,423  1,449   1,494  1,567   1,541   1,495

Land          569     601     596       601     620     604      601    591     579     585      568     561      522

Disclaimer: Zooming in on the figures of a specific geographic area or property type may lead to different conclusions than 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.

SOURCE: REALTORS Association of Maui – http://www.RAMaui.com

MLS Sales data – Information deemed reliable, however not guaranteed

**Additional statistics and graphs for 2010 are available for specific regions and for the island as a whole.  If you would like additional graphs and/or information please email Clinthansen33@gmail.com