From the latest monthly real estate report released by the Realtors Association of Maui (RAM), the price for a single family home on Maui increased by more than 15% in February 2019 compared to the same time lat year. The sharp increase in price can be attributed to the lack inventory which lead to a 20% decrease in sales in February 2019 vs February 2018.
On the other hand, the data reported by RAM indicates the condo market saw more modest numbers than the single family home market. Condo prices rose a little over 10%, while the number of sales slightly declined by 3%.
A Look At The Figures
As mentioned before, the strong demand and low supply across Maui impacted buyers looking to pick up properties. In total, February saw 79 single family homes sold, down 19.4% from the 98 sold in February 2018. In terms of median price, the single family home was $790,000, up more than 15% from $684,350 in February of last year.
Condo numbers favored buyers more than the housing market did in terms of seeing a lower increase in median price. The median sold price of a Maui condo saw an 11.8% increase in February to $524,5000, compared to the February 2018 sold price of $469,250. The number of condos sold in February dipped slightly by 3.2% to 120 sold.
- Number of Wailea condos for sale: 88
- Average asking price: $2,611,129
- Median list price: $1,523,500
- Highest priced listing: $19,995,000 million
- Lowest priced listing: $619,000
Contact a Maui Real Estate Specialist
Amazing ocean views from Ho’olei at Grand Wailea
Please interview me to be your trusted Maui Real Estate and Lifestyle Advisor. I was born and raised on the island, and spend a considerable amount of time to inform my clients about the best deals currently on the market. Please do not hesitate to call me for your Maui real estate needs. I am more than happy to assist you in your home search.
Anthony Sayles R(S)