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.
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