The new year celebrations bring hope and beliefs in new beginnings for many. The final statistics with the overview of 2024 should be ready for discussion within the next month. For now looking back to December 2024, U.S. existing-home sales rose for the second consecutive month, up 4.8% to a seasonally adjusted annual rate of 4.15 million units, an eight-month high, and 6.1% higher year-over-year—the largest annual increase since June 2021, according to the National Association of REALTORS® (NAR).

For Maui, new listings grew 13.4% for single-family homes but fell 7.7% for condominiums, while inventory surged 63.2% and 105.3%, respectively. Median sales prices increased 14.5% for single-family homes to $1,374,238 and 1.2% for condominiums to $860,000, with days on the market and months of inventory also rising significantly. Nationwide, the median existing home price reached $406,100, up 4.7% year-over-year, as total housing inventory of 1.33 million units represented a 3.8-month supply, still below the balanced market range, keeping upward pressure on prices.

From UHERO (The Economic Research Organization at the University of Hawaii) – 4th Quarter Report

“Hawaii tourism, which has flattened this year, will show modest improvement in 2025, as visitor arrivals expanded nearly 3%. U.S. mainland travel will strengthen, aided by federal tax cuts, but international markets may suffer from trade tensions and a stronger dollar. Tourism revenue will be constrained by stagnant per-person spending.

Maui’s recovery continues to face challenges. Visitor numbers remain subdued, with occupancy rates at historic lows and labor force participation constrained by post-fire disruptions and outmigration. Maui has regained more than half of the jobs lost to the wildfires, but employment remains well below pre-fire levels. Rebuilding efforts will provide ongoing support, but a full tourism recovery is years down the road.

On the positive side, the total number of scheduled air seats to the state for November, December, and January has increased relative to last year, indicating airlines’ confidence in potentially rising demand …. into the Winter season.”

We are presently marketing a new listing at The Palms at Wailea short term property. It also has the Golf Opportunities many wish for. This nice ocean view located in the preferred interior circle is two bedrooms and two bathrooms, with the updated split system ceiling air conditioning. $1.775K. Check out that listing along with many other beach front condos and estate properties with price tags and sizes for all:

https://www.mauirealestate.net…

For complete information for Hawaii go to our website

https://www.mauirealestate.net/

Keep informed with our blog where local information and statistics are posted:

https://blog.mauirealestate.net/

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         The Hansen Ohana ~ Maui’s Real Estate Family for over 30 years