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Maui Real Estate Resources

The Maui Real Estate Blog

September 2020 Maui Real Estate Update

Driven by low interest rates and limited supply, strong buyer activity has progressed into Q3 which is atypical for this time of the year as fall historically offers a seasonal lull in the housing market. The lack of inventory and continued buyer interest indicates multiple offers on listings and a decrease in days on market. Although the weather is cooling off, leading indicators point to a hot housing market.

One of a Kind 6-plex Listed by the Sayles Team

Key Figures:

  • Change in number of closed sales: -17.1%
  • Change in median sales price: +6.3%
  • Change in number of total properties sales: +5.3%

September Maui Single Family Home Sales

3977 Wailea Ekolu Place for sale by the Sayles Team

New single family home listings hit the 122 mark, a 3.9% decline from the previous year. Buyer activity increased dramatically with 116 homes entering escrow, a 31.8% increase from the same time last year. Closings fell by 10.1% to 107 homes sold. Days on market average came down by 16.1% to just over 4 months. Median sales price for a home increased by 9.1% to $785,000.

September Maui Condo Sales

Shores of Maui #206 Listed by the Sayles Team

New condos listed in September were on par with the same time last year at 172. 129 condos entered escrow, a 9.3% decline from the previous year. Condos sold figures were also down to 85 condos sold, a whopping 28.6% decrease from last year. Days on market average fell 15.3% to 116 days. Median sold price for a condo in August declined 8.3% to $495,000.

September Maui Real Estate Key Takeaways

  • Mortgage rates remain near record lows
  • The Mortgage Bankers Association reports underwriting standards are tightening
  • Unemployment rates remain high compared to just one year ago
  • Buyers are continuing to show interest through the pandemic

Maui Real Estate For Sale by the Sayles Team

Maui Real Estate For Sale by the Sayles Team

Contact a Maui Real Estate and Lifestyle Specialist

Wailea views from Keala O 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.

Aloha,

Anthony Sayles R(S)

808-280-6532

Anthony@DanoSayles.com

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