Maui Condo Prices Stay Hot
The Realtors Association of Maui released their September monthly report where it introduced some interesting trends and revealed some insights into the condo market if you know where to look.
Maui condo prices increased by double digits to reflect a 14% price jump from September. Although condos saw a rise in prices, the Maui residential market dropped off a bit as the median price for a Maui home decreased because of slightly lower sales.
Looking at yearly trends, September saw 124 condos find new owners, a 25.3% increase from the 99 units sold during the same time last year. This year, we are seeing buyers willing to spend a bit more as the median price for a condo Maui reached $433,750, a 14.4% jump from September 2016’s median price of $379,000.
Through the first 9 months of the year, the South Maui condo market remained Maui’s most in demand market with a staggering 542 sales and total dollar volumes of $183,951,367 in Wailea/Makena and $177,422,612 in Kihei.
Although the condo market moves at a faster pace than the residential market because of its affordability, the residential market also did see an appreciation. Through the first 9 months of 2017, the median price of a Maui home was $700,000, a 10.2% improvement on $635,000 from the same time last year. The number of homes sold from January to September 2017 did see a slight increase of 2.6% to 826 homes sold vs the 805 homes sold in those same months of 2016.
The year to date median price of a condo was $449,500, a 7.7% increase from $417,250 for the first nine months of 2016. Sales of condos during that time period increased 6.9% to 1,048 units sold, from 980 sold from January through September 2016.
The Central Maui residential market hot streak continues into the 4th quarter of the year where it has been the most productive market across all of Maui; in the first 3 quarters of the year, it did 263 in sales which was close to 100 more than the South Maui residential market.
Ho’olei Condos For Sale
- Number of Ho’olei condos for sale: 5
- Average sold price: $2,806,800
- Highest priced villa sold: $3.4 million
- Lowest priced villa sold: $1.9 million
- Number of units in escrow: 3
69 MAKAKEHAU ST #I4
69 MAKAKEHAU ST #I3
63 HOOLEI CIR #B2
See a complete list of Ho’olei Condos For Sale
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Mahalo,
Anthony Sayles
(808) 280-6531
Anthony@DanoSayles.com