Following are the Maui February 2011 Sales Statistics

Brief Maui Statistics Overview:

February’s Sales Volume –February’s Residential Sales held steady at 57 homes sold, while Condo Sales rose to 95 units sold. Land sales came in at 7 lots sold.

February’s Median SALES prices – Home median prices declined from January’s $495,415 to $440,000 while Condo median prices rose substantially to $376,000. Land median price was $282,500.

Days on Market for Residential homes = 149 DOM, Condos = 196 DOM, Land = 180 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-February 2011 to January-February 2010. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends.
Year to Date: Comparing January 2011 to January 2010 Residential unit sales rose (+9%), average sold price = $706,134 (-1%), median price = $450,000 (-7%) and total dollar volume sold = $78,380,919 (+7%).

Condo unit sales increased (+7%), average sold price = $513,007 (-24%), median price = $332,500 (-19%). Total Condo dollar volume sold = $93,367,305 (-19%).

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 (-16%), average sold price = $814,739 (+73%), median price = $291,250 (-35%), Total dollar volume = $13,035,826 (+46%).

Also, total sales for immediately past 12 months: Residential = 821, Condo = 1,161, Land = 124.

March 10, 2011 – Active/Pending/Contingent status inventory:
Mar. Feb. Jan. Dec. Nov. Oct. Sept. Aug. July June May April Mar.
Homes 964 953 963 974 976 1,001 981 994 1,008 1,007 1,040 1,059 1,043
Condos 1,331 1,379 1,383 1,371 1,347 1,394 1,455 1,503 1,412 1,423 1,449 1,494 1,567
Land 557 566 569 601 596 601 620 604 601 591 579 585 568

Statistics provided by the Realtors Association of Maui (RAM)