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Maui Real Estate Resources

The Maui Real Estate Blog

October Maui Real Estate Update 2020

Typically a quieter time of the year for Maui’s real estate market, October shook off historical expectations with a productive month. Buyers are remaining active with limited supply across all segments. Properties are continuing to receive competitive multiple offer situations.

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

Key Figures:

  • Change in number of closed sales: -2.8%
  • Change in median sales price: +11.3%
  • Change in number of total properties sales: +2.2%

October Maui Single Family Home Sales

New single family home listings decreased by 29.4% from the previous year with 101 new listings coming to market. Buyer activity increased with 99 homes entering escrow, a 13.8% increase from the same time last year. Closings fell by 7.7% to 96 homes sold. Days on market average came down 2% to just over 4 months. Median sales price for a home increased by 18.5% to $867,500.

October Maui Condo Sales

New condos listed in October were on par with the same time last year at 168. 121 condos entered escrow, a 3.3% increase from the previous year. Condos sold figures were also down to 121 condos sold, a whopping 18.5% decrease from last year. Days on market average fell 18.5% to 123 days. Median sold price for a condo increased 12.7% to $587,800.

October Maui Real Estate Key Takeaways

  • New record lows for Mortgage rates are helping offset the increase in sales price
  • Red hot demand is signaling to continue into winter
  • Canadian visitors are slated to be welcomed back in December

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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