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Maui Real Estate Resources

The Maui Real Estate Blog

February 2022 Market Update

The story continues for the Maui real estate market as low inventory levels for all property types keep median sales prices at record highs. Combined, properties are selling faster than ever before with median days on market of only 73 days, as months of remaining inventory dipped to 1.5 months. Even with mortgage interest rates rising, it appears to have no impact on the overall competitiveness of Maui’s housing market.

Single-Family Home Transactions

February 2022 vs. Percent Change Over Last Year

Last month there were 85 single family home sales with only 108 new listings. In recent months, market activity has shifted from West Maui to Central and North Shore as total sales increased with significant gains in median sales price. While sales dipped slightly in South Maui, prices rose 24% year over year.

Condo Transactions

February 2022 vs. Percent Change Over Last Year

In February 2022, condominiums set a record for median sales price at $730,500, with 40% of condos being sold for over asking price. Market areas with the strongest competition include the resort areas of Lahaina, Kihei, and Kapalua with days on market lower than the market median. Year over year, nearly all areas have increased sales prices of 15% or more.

Luxury Market Update

Home Sales Over $2m and Condo Sales Over $1.5m

February 2022 Takeaways

  • Mortgage rates have increased almost a full percentage point since December, with the average 30-year fixed-rate mortgage briefly exceeding 4% in February, the highest level since May 2019.
  • Inventory was at an all-time low, down 17% from a year ago and equivalent to 1.6 months supply.
  • Much of the current housing supply is concentrated at the upper end of the market, where inventory is increasing, while homes priced at the lower end of the market are quickly disappearing

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

Anthony@DanoSayles.com

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