Unprecedented times in the stock market and low interest rates continues to spur buyers into action. November saw the Dow Jones Industrial Average surpass 30,000 for the first time ever, while mortgage rates also hit record lows. Encouraging signals from the finance sector are pushing buyers to remain active with limited supply across all segments.
- Change in number of closed sales: +13.7%
- Change in median sales price: +12%
- Change in number of total properties sales: -3.9%
New single family home listings decreased by 24% from the previous year with 95 new listings coming to market. Buyer activity decreased with 81 homes entering escrow, a 10% decrease from the same time last year. Closings boomed with 102 homes sold, a 37.8% increase from last year. Days on market average came down 7.5% to just under 4 months. Median sales price for a home increased by 16.8% to $852,500.
New condos listed in November decreased 33% from the same time last year with only 144 new condos coming to market. Condos entering excrow declined slightly by 1.4% to 144. Condo sold figures were also down to 130 condos sold, a 8.5% decrease from last year. Days on market average fell 33.7% to 122 days. Median sold price for a condo increased 3.9% to $518,520.
November Maui Real Estate Key Takeaways
- Showing activity continues to stay hot
- Red hot demand is signaling to continue into winter
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)