As we move into the busy holiday season on Maui, we enjoy looking at our local real estate sales to see what information we can use moving forward and to get a general idea of how the market is performing for the year.
Average Sales Price for Maui homes and condos
The average sales price for homes on Maui so far this year is $882,200, up 13.87% from the 2013 YTD average of $774,772.
For condominiums on Maui so far this year, the average sales price is $640,887, up 12.89% from the 2013 YTD average of $567,683.
Active versus Pending Listings
For residential listings in 2014, there were 572 Active listings compared to 185 Pending listings.
Comparably, condo listings in 2014 show 826 Active listings and 195 Pending listings. Clearly there are many more opportunities for condo buyers than residential buyers, although many new homes are currently in development in south Maui.
November Home Sales Activity
The Central Maui towns of Wailuku and Kahului were the clear winners in residential sales, with 29 homes sold in the month of November alone, closely followed by Kihei. Since this area is a popular choice for those who enjoy the convenience of a short drive to many of the island’s best attractions and nearby amenities, it’s no wonder that it remains a popular choice for new and long-time Maui residents.
November Condo sales activity
Condo sales were much higher in Kihei than anywhere else on the island, with 26 total sales in the month of November. Kihei is one of the busiest and most popular choices for condo buyers due to its convenient location to many beautiful beaches, shops, restaurants and activities.
Mahalo for reading our November Market Insights, and stay tuned for more! Have questions about real estate on Maui? Contact us and we would love to help you in your search.