Number of sales
There were 1,116 vacation condo sales recorded in 2021 which is a new record. It is also 114% higher than the 2020 sales count which was 519.
2003 was the year with the previous high record with 907 vacation condos sold.
Average sales price
The 2021 average sales price was $1,040,438. This is up 13.77% from the 2020 average of $914,506. Most importantly, this is the first time since 2008 that the average sales price has exceeded $1M.
Context matters: 2008 was the year with the highest average sales price at $1,162,010.
It’s helpful to know that we saw a greater price increase comparing the 2020 average of $914,506 to the 2019 average of $763,035. That’s a price increase of 19.85%. The year with the most dramatic price increase was actually 2005 which had a 39.99% spike compared to 2004.
Median sales price
2021 set the new high record for median sales price at $736,000. That’s up 9.85% from the 2020 median of $670,000.
Total sales volume
2021 saw the new high record achieved for total sales volume which was $1.161 Billion! The second highest year was waaaaaay back in 2005 with $643 Million in total volume.
Price per sqft
2021 also set a new record high for Average sales price per square foot which is $1,023.56/sqft. The second highest average was 2006 with $907.63/sqft.
Cash sales
45.6% of the sales in 2021 were from cash buyers. This is actually fairly consistent with the percentage for the previous 4 years. The most recent year with the highest percentage of cash buyers was 2018 which had 49%.
Context matters: The year with the highest percentage of cash sales was 2011 with 69%.
Maui Vacation Condos For Sale
145 N KIHEI RD #233
110 KAANAPALI SHORES PL #1006
4007 LOWER HONOAPIILANI RD #215
500 KAPALUA DR #27P3-4
3785 LOWER HONOAPIILANI RD #116
See a complete list of Maui Vacation Condos For Sale
Contact a Maui Real Estate and Lifestyle 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.
Aloha,
Anthony Sayles R(S)
808-280-6532