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Median Sales Price for Single Family Home on Maui Increased to $983,500 in April

April 2021 was another strong month for home sales on Maui, with the median sales price for a single home increasing 30.3 percent from a year ago to $983,500 and for condominium homes the median sales price increased 15.4 percent from a year ago to $695,000, according to the latest report from the REALTORS® Association of Maui.

The report found the busy spring real estate market continues to see many multiple offer situations that are driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests.

Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase, according to the report’s summary. Here are more findings, compared to one year ago.

  • New listings increased 33.8 percent for single family homes and 33.9 percent for condominium homes.
  • Pending sales increased 144.4 percent for single family homes and 536.4 percent for condominium homes.
  • Inventory decreased 54 percent for single family homes and 49.8 percent for condominium homes.
  • Days on Market decreased .3 percent for single family homes and 26.3 percent for condominium homes.
  • Months Supply of Inventory decreased 64.2 percent for single family homes and 62 percent for condominium homes.

Original source: https://mauinow.com/2021/05/07/median-sales-price-for-single-family-home-on-maui-increased-to-983500-in-april/

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