Open This Sunday

Call for Easy Access or come visit this Sunday 1 to 4 pm!

3138 N Noho Loihi, Wailea Pualani

Your Chance is Here! Best priced Wailea Home available offers nice ocean & sunset views. Stunning 4-bedroom, 3-bathroom two-story home home w/pool & fresh exterior makeover. Endless possibilities of the second primary suite or use as a home office, entertainment oasis, or your own private theater – the choice is yours. Expansive gardens for entertaining or lounging. Terrific Resort & Beach Activities nearby. Also available by appointment. 808-280-1650. Offered @ $2,598K.

July Stats

Significant changes have happened in different property categories in the Maui real estate sector compared to the previous year. The single-family home market had 451 transactions, a significant fall of 32.2% from the previous year. The median sales price for these properties was $1,150,000, representing a 2.1% decrease. The entire sales value was likewise reduced by 32.2%, reaching $821,757,280. Similarly, the condominium market witnessed a 45.6% decrease in sales, with a total of 586 units sold. However, median sales prices increased 10.5% to $840,000, indicating a favorable trend. Despite this, the overall value of condominium sales fell 42.1% to $672,600,274. There were 100 sales in the unoccupied land sector, with prices ranging from $2.2 million to $860.0 thousand. The median sales price for empty land was $725,500, a 6.6% decline, while the total sales value was $129,807,993, a 29.7% decrease. These figures show a dynamic and changing real estate market in Maui, with changes in sales volumes and median sales prices across single-family homes, condominiums, and unoccupied land.

The Hawaii real estate market has undergone significant changes in many property sectors. The number of single-family house sales has dropped by 32.3%, reaching 1,137 purchases. The median sales price of these residences fell 0.2% to $499,000, while the total sales value fell 35.6% to $919,097,796. Similarly, the number of sales in the condominium sector fell by 32.4% to 386. The median sales price, which reached $589,500, did, however, rise by 2.5%. Despite this, the total value of condominium sales fell by 37.5% to $365,976,353. The unoccupied land sector saw a 35.2% fall in sales, totaling 1,156 transactions, and a 14.6% decrease in median sales price, now standing at $41,000. The overall sales value of empty land has likewise decreased by 39.2% to $213,524,524. These numbers point to a difficult real estate market in Hawaii, with lower sales activity and different variations in median sales prices among single-family homes, condominiums, and unoccupied land.

Oahu has seen significant shifts as well. There were 1,654 sales in the single-family house segment, a considerable decline of 28.6% from the previous year. The median sales price for these residences was $1,030,000, a 7.6% decrease from last year, and the total sales value was $2,123,115,419, a 35.4% decrease from the previous year. The condominium market reported 2,846 transactions, representing a significant 33.2% fall in sales. The median sales price for condos was $500,000, a 2.6% decrease from the previous year, while the total sales value was $1,743,734,508, a 33.2% decrease from the previous year. There were 44 sales in the unoccupied land sector, representing a significant 40.5% reduction from the previous year. The median sales price for empty land was $747,500, a 4.5% decrease, with a total sales value of $75,208,236. These figures show a changing real estate landscape on Oahu, with lower sales volumes and variations in median sales prices for single-family homes, condominiums, and unoccupied land.

In the Kauai market there were 170 sales in the single-family house category, representing a 47.7% decline from the previous year. The median sales price for these residences was $1,100,000, representing an 8.3% decrease, while the overall sales value was $267,112,809, representing a dramatic 60.5% decrease from the previous year. The condominium market saw 186 sales, representing a 33.8% reduction in the number of sales. The median sales price for condos was $697,000, a 3.9% decline from the previous year, while the total sales value was $170,231,628—a 32.0% decrease from the previous year. There were 57 sales in the unoccupied land category, a 36.7% decline from the previous year. Interestingly, the median sales price for unoccupied property climbed by 28.6% to $900,000, but the total sales value decreased by 37.7% to $74,786,200 from the previous year. These data show a changing real estate landscape in Kauai, with lower sales activity and different changes in median sales prices among single-family homes, condominiums, and unoccupied land.

Open This Weekend!

 

3138 N. Noho Loihi

Today and Tomorrow 1 pm to 5 pm

Call for gate access 808-280-1650

Housing Market Update

In Maui County, the typical sales price for a single-family home in January 2023 was $1.16 million, slightly more than in December 2022, according to a report by the Realtors Association of Maui. Condominium sales in January averaged $657,500, which was the lowest level in the previous year. Also, there were much fewer closed transactions and new listings than there were a year earlier. The paper points out that as sales slow, time on the market rises, giving buyers more negotiating leverage. According to reports, the US home market is in the process of rebalancing, with many buyers and sellers exercising caution as they wait to see where the market is going.

Read the entire article via the Maui News here.

January 2023 Newsletter