The Maui real estate market hit a new record high as the median sale price for condos reached $725,000 in November 2021. Meanwhile, after a slight dip from all-time highs in June, the median price for single-family homes island-wide once again reached $1 million. With mortgage interest rates remaining in the low 3% range, competition amongst buyers remain strong.
Single-Family Home Transactions
November 2021 vs. Percent Change Over Last Year
On the rise from the previous month, single-family home prices island-wide have increased 17.3% in November 2021 from the same period last year ($852,500). While indicators of demand remain strong, showing some relief as the average days on market increased and the number of homes sold above list price decreased, a lack of inventory continues to be a strain on the market. Leading market areas include Central and Upcountry where both home prices and number of sales are up.
October 2021 vs. Percent Change Over Last Year
The leisure market areas led the condo market to all-time highs in November, as 10 0f the 17 market areas had median price increases of 25% or more compared to the same time last year. In November, seven units at Makalii Wailea closed. If you remove these units, which were for sale between 2017-2018, the average days on market for Maui condos is a remarkable 70 days.
Luxury Transactions For October 2021
For single-family home and condo sales over $1.5m
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.
Anthony Sayles R(S)