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Maui Home Prices Drop in June

Home prices were down year-over-year, while condo prices were up.
July 18, 2014

Maui Home Prices Drop in June

Maui HomeThe numbers are in for Maui's June real estate statistics, and median home prices dropped, while median condo prices spiked. As we always remind our readers, in a small market like ours, it's easy for a few little changes to sway the statistics because they comprise a larger percentage of the whole than larger markets. This means it's especially important to look at long-term real estate trends in our market. That being said, the monthly reports can still yield interesting results.

Single-family Maui home prices fell by 12 percent year-over-year in June, but condo prices rose by 11 percent, according to the Realtors Association of Maui.

The median single-family home price was $535,000, compared to $599,000 in the same month last year. As for the influence of sales, there wasn't much of a change. There were 91 sales, compared to 93.

As for condos, the median price was $444,500 compared with $400,000 in the same month last year. Oddly enough, sales fell 25 percent from 125 units sold in June 2013 to 94 units sold last month.

Another interesting development is the fact that inventory nudged up a bit, despite the current low inventory trend. High overall prices are likely the cause, as owners become sellers to make a profit on their Maui real estate investment. As always, South Maui real estate comprised a big percentage of the island's condo and home sales. This area of the island is our specialty, so if you're in the market and looking for assistance, you'll find our contact information at the bottom of the page. Mahalo!

RealEstateMauiHawaii.com - By Mark Harbison

Blogs for July 2014

Home Builder's Confidence on the Rise

Posted on July 25, 2014
Home Builder's Confidence on the Rise

This week, we're happy to report that we've had good news on the home front, literally. July was a great month for home builder's confidence thanks to the job growth of June, which translated to a 53 on the National Association of Home Builders (NAHB)/Wells… Continue Reading

Maui Home Prices Drop in June

Posted on July 18, 2014
Maui Home Prices Drop in June

The numbers are in for Maui's June real estate statistics, and median home prices dropped, while median condo prices spiked. As we always remind our readers, in a small market like ours, it's easy for a few little changes to sway the statistics because they… Continue Reading

Maui Memorial Medical Center Expansion

Posted on July 11, 2014
Maui Memorial Medical Center Expansion

When you're deciding whether or not to move to Maui, or any other island, you will probably find yourself asking a lot of questions about what is on the island. Newcomers are concerned with everything from schools and churches to restaurants and museums. Then there's health… Continue Reading

The Benefit of Hawaii's Thriving Airlines

Posted on July 04, 2014
The Benefit of Hawaii's Thriving Airlines

The Chamber of Commerce Hawaii recently held its first Hawaii Infrastructure and Transportation Summit in Waikiki, on Oahu. Of course these are areas of distinct interest for those considering a move to Maui, or a Maui real estate purchase. The visitor industry is heavily influenced… Continue Reading

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Mark A Harbison
R(B) (GRI) (CIPS) (TRC)

Mark@RealEstateMauiHawaii.com

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