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Maui County Real Estate Remains a Seller’s Market

Maui County real estate continued to be a seller’s market for August 2021, with 121 single family homes selling at a median sales price of $1,040,000, a 30.2% increase from a year ago but $5,000 less than last month, according to statistics from the REALTORS Association of Maui.

Single family homes also sold 11.6% faster in August 2021 than a year ago, with 114 average days on the market.

The majority of single family home sales were in Kahului (21 sales) at an average median sales price of $855,000 and Wailuku (19 sales) at an average price of $895,000 for August 2021.

For Maui County condominiums, there were 187 sales, an increase of 58.5% from a year ago. But the median sales price was 2% less than a year ago at $650,000. The condos were on the market for an average of 100 days, 44.4% less than August 2020.

For those wanting to build or invest, the vacant land median price for 30 sales doubled to $800,000 from a year ago, but it was down $72,500 from last month. The number of sales was a 25% increase from a year ago.

Months supply of inventory decreased 59.1% for single family homes to 1.8 months; and it decreased 90.8% for condominiums only a .7 month supply.

For August 2021, inventory was 207 single family homes for sale, a 45.1% decrease from a year ago. It’s only a 1.8 month supply, a decrease of nearly 60% from a year ago.

Inventory was 136 condominiums for sale, a 82.7% decrease from a year ago. It’s only a .7 month supply, down more than 90% from a year ago.

Pending sales increased 15% for single family homes and 31.5% for condominiums.

The REALTORS Association of Maui report is available here.

Original source: https://mauinow.com/2021/09/10/maui-county-real-estate-remains-a-sellers-market/

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