Maui Sales Rise In October As Median Price Declines
In October, according to the October real estate report released by the Realtors Association of Maui (RAM), the single family and condo markets performed opposite from one another. The number of single family homes rose sharply, while the median priced dropped off. Condo sales saw their number sag, while its median price increased.
Overall year to date, homes and condo sales on Maui are down from last year. YTD median sold price for a Maui home is around $745,000; while condos are coming in at about $518,000.
To be exact, the number of Maui homes sold increased by 18% compared to the same last year, while the median price decreased by 5.5%. In total, 104 homes sold in October, up from 88 in October 2018. The median sold price for a home came in at $732,000, down from $774,223
The median price of a condo in October was $515,800, up 3.2% from $500,000. Sales numbers were based on the 132 units sold in October, which was 1.5% fewer than the 134 units that sold in October 2018.
Since the start of the year, Maui has seen the highest number of vacation rental units. Compared to 2018, supply is up 24% to nearly 313,000 units. Demand was also increased sharply by 33% to more than 226,000, for an occupancy rate of 72%.
Stats were compiled by Hawaii Vacation Rental Performance Report, released Friday by the Hawaii Tourism Authority
Ho’olei villas, we are also currently the in house “Sayles” team at Ho’olei 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)