Median prices for both homes and condominiums rose for the month of February while inventory and sales declined. Median home prices increased 15.4% to $790,000 and median condo prices rose 11.8 percent to $524,500. These stats were released by Realtors Association of Maui.
Closed sales for February homes were down 19.4% to 79 homes. Closed condo sales were down 3.2% to 120. Kihei was the city with the most homes sold, with Wailuku and Kahului close behind. Closed condo sales also saw Kihei with the most units sold with Napili/Kahana/Honokowai and Wailuku next.
Maui’s market was on trend with the rest of the nation showing a decrease in closed sales. Potential homeowners will likely take advantage the remainder of the year with interest rates being more stable then 2018’s unreliable changing rates.
As always, contact the Hansen Ohana with any and all of your real estate needs!