Maui home prices have increased 8.8% in the last year and condominium prices rose 7.2% for 2016. These market increases are due to low inventory. Most housing markets across the nation have shown an increase in the median price.
Once listings hit the market, houses and condos were selling at a faster pace than in 2016. Days on the market for homes was down 8.4 % and for condos down 3.8%. Kihei accounted for 40% of the condos sold in 2016.
New housing projects to look for in Kihei by Alexander & Baldwin’s Kamalani. The first phase of this new development will be releasing 170 units.
Feel free to contact the Hansen Ohana for all your real estate needs! To read more on the market trends for Maui, visit the Maui News website here.