April saw another productive month with the busy spring market bringing many multiple offer scenarios that continues to drive sale prices. By the time deals are closing, the final sold price is often suggesting that the market is commanding higher prices from just a few short weeks prior. Despite the competitive state of the market, with its fast pace and high number of buyers vying for the same properties, many buyers remain highly motivated and are overcoming these challenges. Meanwhile, sellers continue to enjoy the seller’s market.
Maui Market Report Island Wide
April was Another Stellar month for the Maui real estate market as we recorded the highest median sales price for single-family homes at $938,500 and condos at $696,500. Much like in previous months, prices continued to increase due to limited inventory and pent-up buyer demand, a trend that is likely to continue as we enter the summer sales period. When comparing year-over-year stats, it’s important to note that ehe steep decline of sales activity in April 2020 due to consumer uncertainty and quarantine restrictions as part of the early COVID-19 pandemic.
Luxury Transactions For the Month of April
April Maui Real Estate Key Takeaways
With many sellers pricing their properties in anticipation of where the market is heading, buyers are trying to gauge where they think the market will be when their property closes as many new comps are continuing to support increased pricing. Strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through the end of spring and into summer.
Please interview me to be your trusted Maui Real Estate and Lifestyle Advisor. I was born in South Maui 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)