October home sales on Maui hint at a possible cooling in the Valley Isle’s otherwise strong real estate market, as the median price of single-family homes island-wide is up 7.5% year-over-year, but continues to gradually slide (-5%) from last month’s dip below the $1 million mark. A slowdown in the luxury single-family home market is evidenced by a year low of 13 transactions in October 2021 compared to the peak of 50 transactions in April of this year.

Single-Family Home Transactions

October 2021 vs. Percent Change Over Last Year

Inventory continues to put pressure on the Maui single-family home market. Lat month, only 92 properties were listed for sale while one-in-three homes sold above list price. Leading market districts with regards to year-over-year price increases include Wailea/Makena, Paia, Makawao, and Kihei. Kapalua interestingly had no home sales in October 2021, yet still offers some of the best values in this climbing market.

Condo Transactions

October 2021 vs. Percent Change Over Last Year

Maui’s condo market rolled along in October as all key market indicators held their mark compared to the past six months since the beginning of summer. Condos in leisure destinations, including Kihei, Kaanapali, Lahaina, and Wailea/Makena had double-digit increases in median sold prices which outpaced the overall condo market.

Luxury Transactions For October 2021

For single-family home and condo sales over $1.5m

Contact A Maui Real Estate Specialist

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.

We are also on-site real estate team at the Ho’olei villas, we are open from 9AM-5PM daily, so feel free to stop by anytime. Also, see a full list of Wailea condos for sale and Makena condos for sale.

Aloha,

Anthony Sayles R(S)

Anthony@Danosayles.com 

808-280-6532