Tag Archives: Maui Real Estate Market

Prices Dropping

Posted on by

In April 2023, the median sales price for single-family homes in Maui County dropped from $1.24 million to $1.1 million, however fewer homes were sold as a result of fluctuating mortgage rates. The median sales price for condominiums, meanwhile, jumped from $820,000 a year ago to $877,000 today. April saw a 2.4 percent national reduction in existing-home sales, and a monthly decline of 5.2 percent in pending sales. The housing supply in Maui County has, nevertheless, been trending higher over the previous 12 months. In April, Wailuku saw the most number of single-family house sales, and Kihei saw the greatest number of condo sales.

To read the entire article via The Maui News here.

Housing Market Update

Posted on by

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.